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Malaysia's economy forecast to have grown 3.1% in Q4 2021

Malaysia's economy has likely expanded by 3.1% year-on-year in the last quarter of 2021, according to a forecast by Bank Islam. The bank said the forecast growth figure is a rebound from the 4.5% decline in Q3. The growth forecast also takes into consideration the flash floods that devastated key states at the end of December 2021, which resulted in MYR6.1bn (USD1.46bn) in overall losses. For the entire 2021, Bank Islam maintains its GDP growth forecast of 3%, barring unforeseen changes required following the Q4 2021 GDP data release on February 11. Across the region, the Philippines posted the largest expansion rate, growing by 5.6% in 2021 after logging in a 7.7% growth in the final quarter of 2021.

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