PETALING JAYA: The Malaysian economy has the necessary buffers to withstand downside risks amid a challenging business environment exacerbated by the looming global recession next year, say economists.
He said Malaysia could not avoid the ripple effects from the slower global economic growth, particularly the slowdown in consumer electronic demands which would impact the semiconductor sector.
The World Bank has estimated that a one percentage point decline in the growth of the Group of Seven countries, excluding Japan, could result in Malaysia’s gross domestic product (GDP) growth falling by a similar quantum while a one percentage point fall in China’s growth would see a corresponding 0.7 percentage point drop in the country’s GDP growth.
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