Rightways: MALAYSIA Upbeat GDP forecast between 5.3% and 6.3%, Inflation to hover between 2.2% and 3.2% in 2022

Saturday, April 2, 2022

MALAYSIA Upbeat GDP forecast between 5.3% and 6.3%, Inflation to hover between 2.2% and 3.2% in 2022

A production line of an electronics company in the northern province of Thái Nguyên. Strong export is among main drivers for Vietnam's GDP growth in 2022. — VNA/VNS

MALAYSIA has managed to record economic growth of 3.1% in 2021 despite it being a challenging year.

This year appears to be more promising with the gross domestic product (GDP) projected to grow between 5.3% and 6.3%, according to Bank Negara.

It will be supported by several factors including the continued expansion in external demand underpinned by the tech upcycle, international border reopening, improvement in the labour market and continued access to targeted policy measures.

Inflation is likely to hover between 2.2% and 3.2% in 2022 while the unemployment rate is expected to improve to 4%. The current account balance is seen at between 4.2% and 4.7% of GDP this year.

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