Economics

Malaysia Finance Minister Cuts Growth Projection to About 5%

Lim says global slowdown amid trade war will knock Malaysia
Finance minister says focus is on achieving budget target

Malaysian Finance Minister Lim Guan Eng on 1MDB money, infrastructure projects with China, and Malaysia’s economy.(Source: Bloomberg)

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By Anisah Shukry and Pooi Koon Chong

July 20, 2018 at 2:31 AM UTC

Updated on

July 20, 2018 at 3:47 AM UTC

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Malaysian Finance Minister Lim Guan Eng pared back expectations for economic growth for this year to about 5 percent as the export-reliant nation braces for knock-on effects of a brewing trade war.

“If the global economy slows, as a trading nation, definitely Malaysia will be impacted,” Lim said in an interview with Bloomberg Television’s Haslinda Amin in Putrajaya on Thursday. His forecast is more bearish than most economists’ estimates and lower than the central bank’s 5.5 percent to 6 percent projection.