KUALA LUMPUR, Aug 21 — Kenanga Investment Bank Bhd has retained the 2023 current account (CA) forecast at 2.6 per cent of gross domestic product (GDP) despite weaker external...
KUALA LUMPUR, Aug 21 — Kenanga Investment Bank Bhd has retained the 2023 current account forecast at 2.6 per cent of gross domestic product despite weaker external trade performance and moderate GDP growth outlook.
“However, we expect the current account surplus to remain supported by a sustained recovery in the tourism sector due to a gradual increase in tourist arrivals and the expected return of foreign capital inflows,” it said. “The increase in the CA surplus was primarily attributed to a smaller deficit in services and primary account, while the goods account remained in surplus albeit lower.
Additionally, Maybank Investment Bank Bhd said its full-year 2023 CA surplus projection as a percentage of GDP would remain at 2.4 per cent, but the CA surplus value is trimmed to RM43 billion from RM47 billion following its revision in 2023 real GDP growth forecast to 4.0 per cent from 4.5 per cent.
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