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International Monetary Fund more than doubles UAE s 2021 GDP forecast to to 3 1%

IMF maintains Malaysia s GDP growth at 6 5% this year

File pic - IZZRAFIQ ALIAS/The Star KUALA LUMPUR: The International Monetary Fund (IMF) maintains its forecast on Malaysia’s gross domestic product (GDP) growth this year at 6.5 per cent, according to its latest World Economic Outlook (WEO) report published today. Themed Managing Divergent Recoveries”, the report also stated that the country’s economy is expected to grow at 6.0 per cent in 2022. IMF expects the country’s unemployment rate to drop to 3.8 per cent this year before going further down to 3.6 per cent in 2022, as compared to 4.5 per cent in 2020. In its Country Report released last month, IMF projected Malaysia’s growth to rebound to 6.5 per cent in 2021, driven by strong recovery in the manufacturing and construction sectors, and the impact of the vaccination rollout in February.

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