The econony will contract by between -4.0 and -5.0 percent this year, Prime Minister Datuk Seri Najib Tun Razak said Thursday.
However, he said the economy was expected to do better in the second half of the year.
"Although the fourth quarter is likely to be positive, the overall growth for the year is still negative because the first quarter is negative and the expected negative growth in the second and third quarters," he told a media briefing at his office here.
Najib, who is also Finance Minister, also said Malaysia was already in a technical recession.
"Our recovery depends on the world recovery. We have to see what happens in the United States and Europe. If they recover, we will be on track for growth," he said.
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