Malaysia economy to improve in 2021 in line with global recovery - PM

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The government expects Malaysia's economic position to improve this year, in line with the recovery of global economic and trade activities, said Prime Minister Muhyiddin Yassin.Citing a World Economic Outlook report, he said the world’s gross domestic product (GDP) in 2021 was projected to recover at 5.5 percent, while world trade was also projected to grow at 8.1 percent."International bodies such as the International Monetary Fund and World Bank in January 2021 projected that our country's economy will grow at a rate of 7.0 percent and 6.7 percent, respectively," he said in his keynote address on the first anniversary since his swearing-in as premier on Monday.Muhyiddin said the country's economic recovery will also be led by the services and manufacturing sectors which contribute more than 80 percent of GDP."At the same time, domestic demand is p…