Malaysia’s GDP growth forecast for 2025, initially set at 4.5% to 5.5%, may face a downward revision due to potential tariffs, according to Bank Negara Malaysia (BNM).
BNM Governor Datuk Seri Abdul Rasheed Ghaffour emphasized a cautious approach, noting the need to monitor developments, particularly regarding negotiations and retaliatory tariff measures. Speaking at the IMF Annual and Spring Meetings in Washington, he highlighted that while BNM had accounted for some risks in its March projections, recent developments, spurred by Donald Trump’s announcements, were unexpectedly disruptive.
GDP growth
“Certainly, this (Malaysia’s growth) will need to be marked out. But we are not in a rush to do it because we need to see how it (the reciprocal tariffs) unfolds.”
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