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KUALA LUMPUR: The International Monetary Fund (IMF) expects Malaysia’s real gross domestic product (GDP) to rise 7.8 percent next year.
However, the IMF has revised its forecast for Malaysia’s GDP for 2020 to a 6 percent year-on-year contraction from the previously estimated 3.8 percent contraction.
In its October 2020 World Economic Outlook (WEO) update released yesterday, it said that advanced Asian economies are projected to have somewhat more moderate recessions than Europe’s.
This is due to the more contained pandemic that was also reflected in smaller falls in GDP during the first half of 2020.
Touching on currency exchange, the IMF noted that the currencies of commodity exporters among advanced economies strengthened as commodity prices consolidated.
“Most emerging market currencies rallied between April and June, following severe pressures during the market turmoil in March.
“Since then, the Chinese renminbi has strengthened and the currencies of other Asian emerging market economies have been stable in real effective terms,” he said.Called
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