MACAM INI pun BOLEH, Sekejap TU Sekejap NI.
PUTRAJAYA: Malaysia's gross domestic product (GDP) has been revised to a contraction of between 4% and 5% this year on the back of worsening global economic outlook, says Prime Minister Datuk Seri Najib Tun Razak.
"The revision is due to very weak external demand as well as falling private sector investment and FDI (foreign direct investment) flows," he said at a press conference today.
The conditions of the external environment was "far worse than expected," he added. The Government had earlier estimated GDP to grow at 1% or to contract up to 1%.
Najib said nonetheless, the fourth quarter GDP was likely to return to growth while next year should be in the positive territory.
Any recovery would depend on the improvements of the US and European economies, he added.
Yesterday, Bank Negara released the first quarter GDP figure that showed a contraction of 6.2%, and indicated that the second quarter could be "similar."
"The revision is due to very weak external demand as well as falling private sector investment and FDI (foreign direct investment) flows," he said at a press conference today.
The conditions of the external environment was "far worse than expected," he added. The Government had earlier estimated GDP to grow at 1% or to contract up to 1%.
Najib said nonetheless, the fourth quarter GDP was likely to return to growth while next year should be in the positive territory.
Any recovery would depend on the improvements of the US and European economies, he added.
Yesterday, Bank Negara released the first quarter GDP figure that showed a contraction of 6.2%, and indicated that the second quarter could be "similar."