GEORGE TOWN: Malaysia is confident of achieving positive growth and avoid a recession this year despite having to navigate through global headwinds.
Even though the country’s economic growth this year was projected to be moderate compared with 2022, International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said he was optimistic that Malaysia would not face a recession.
"Bank Negara Malaysia, the International Monetary Fund, and the World Bank have projected for Malaysia to continue achieving positive economic growth in the 3%-5% range. "Therefore we need to take this opportunity to ensure all of our engines of growth keep firing especially in terms of trade and investment," he told Bernama during his recent visit to Penang.
During his two-day visit to Penang, Tengku Zafrul said he held meetings with top state officials and industry players to discuss efforts to strengthen the industrial ecosystem here as it is one of the leading investment destinations for the electrical and electronics and medical technology sectors.
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