BNM revises 2020 GDP forecast to between -3.5% to -5.5%

BNM revises 2020 GDP forecast to between -3.5% to -5.5%

the Sun Daily - Business·2020-08-14 14:32

PETALING JAYA: Bank Negara Malaysia (BNM) has revised its 2020 gross domestic product (GDP) forecast to -3.5% to -5.5% after announcing a 17.1% contraction in the Q2’20 GDP.

Governor Datuk Nor Shamsiah Mohd Yunus attributed the upset in the economic performance to the changes in its underlying assumptions on world growth and the longer than expected implementation of the movement control order (MCO) to contain the pandemic.

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Economy

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