World Bank predicts 4.3% growth for Malaysia
The Malaysian economy is poised to grow 4.3% in 2023, supported by domestic demand amid an expected slowdown in external demand, says the World Bank. – The Malaysian Insight file pic, March 30, 2023.
The World Bank said the economic growth is supported by improvements in labour market conditions as well as ongoing income support measures from the government, with investment projected to increase by 4.4% in 2023 compared with 6.8% in 2022, reflecting the continued flow of capital investments in the private and public sectors.
The World Bank also elaborated that on the domestic front, the main sources of downside risk relate to the uncertainty surrounding inflation and relatively high debt levels, which could weigh more heavily on domestic demand.
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