Economy expected to contract by 4 pct this year - ADB

The Malaysian economy is expected to contract by 4.0 percent this year before recovering to grow by 6.5 percent in 2021, the Asian Development Bank (ADB) said.

In its Asian Development Outlook Supplement released today, the ADB said the country’s external demand is likely to be weak as trade partners continue to grapple with the effects of Covid-19.