KUALA LUMPUR (Nikkei Markets) -- The World Bank Monday trimmed its forecast for Malaysia's economic growth in 2020 to 4.5% from October's estimate of 4.6% following weaker-than-expected investment and exports in recent months.
Preserving fiscal space will be vital to mitigate potential impact of any shock amid global uncertainty, the multilateral agency said in a statement. The government can ramp up revenue without affecting low-income households with progressive personal income tax and broadening consumption tax, it said.
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