KUALA LUMPUR (July 2): RHB Bank Bhd does not expect the recently announced Enhanced Movement Control Order (EMCO) to have a significant impact on Malaysia’s economy. “In my observations, these district-wise types of tightening measures are really not effective in the sense that it’s very difficult to police. It’s just more stringent and the SOPs (standard operating procedures) are going to be much more stringent,” said Jha. The bank maintains its gross domestic product (GDP) growth forecast at 5.4%, despite Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz saying the government will be revising the official economic growth forecast down from the current 6% to 7.5% range. Asked if exporters in Malaysia would be able to benefit from the weaker ringgit, Jha said that might not be the case.

Source: The Edge Markets July 02, 2021 09:56 UTC