Think tank questions Bank Negara’s over-optimistic growth forecast

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Bank Negara Malaysia’s Economic and Monetary Review report from earlier this month has come under scrutiny by think tank, Research For Social Advancement.PETALING JAYA: Bank Negara Malaysia’s (BNM) growth forecast of 6% to 7.5%, as stated in their Economic and Monetary Review earlier this month, has come under intense scrutiny from a think tank.Research For Social Advancement (Refsa) released a report today in which it questioned the forecast for being too optimistic and arguing that it should be revised downward.In its report, which was jointly prepared by former deputy minister of international trade and industry Ong Kian Ming, Refsa warned that there was a chance the country may be in for another difficult year in 2021.The report argued that recent data shows some significant downside risks were already materialising, possibly affecting future growth in the country’s gross …