KUALA LUMPUR, June 10 — The latest upgrade in global economic growth for this year bodes well for Malaysia and is set to contribute positively to the country’s trade...
KUALA LUMPUR, June 10 — The latest upgrade in global economic growth for this year bodes well for Malaysia and is set to contribute positively to the country’s trade performance, said Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz.
Concurrently, it has raised its 2023 growth forecasts for the United States to 1.1 per cent and China to 5.6 per cent, both of which are Malaysia’s largest trading partners. Meanwhile, the Organisation for Economic Cooperation and Development revised its growth outlook for the world economy to 2.7 per cent from 2.6 per cent, amid easing inflation and the lifting of China’s Covid-19 restrictions, but cautioned of a long road ahead to attain strong growth.
“What we’ve seen is that the growth, trade is still positive, but compared to last year, there is a moderation in growth,” he told Bernama.In another development, the World Trade Organisation has forecast a lower trade growth this year at 1.7 per cent compared to 2.7 per cent last year, before picking up to 3.2 per cent in 2024.
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