Following the strong growth of 8.7 per cent in 2022.
Its Asia-Pacific economist, Vishrut Rana said the downtrend reflects external weaknesses as the global trade and electronics industry cycle softens this year, after two years of strong growth and activity.
"Looking further out, we expect a strong upward growth of 4.5 per cent over our forecast horizon as trade and electronics activities recover, alongside steady domestic demand growth,” he told Bernama.
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