Negara Malaysia (BNM) expects the Malaysian economy to grow between 5.3% to 6.3% in 2022, following a growth of 3.1% in 2021, underpinned by continued external demand and return of domestic demand.
BNM said that the domestic economy would be underpinned by continued expansion in global demand and improvement in domestic economic activity. The improvement in domestic demand would translate into a rebound in domestic activities mainly in services sectors that contribute the biggest portion of Gross Domestic Product (GDP). The growth also would be supported by external demand, the absence of pandemic-related measures, the reopening of international borders, and a further improvement in labor market conditions.
The comprehensive and complementary policy support will continue to reinforce the economy through both fiscal and monetary stimulus. The accommodative policy support will be the main tool to provide ample liquidity and financial support to the economic agents which eventually improve the broad base income. Apart from that, Bank Negara said the COVID-19 developments remain key in influencing Malaysia’s growth trajectory in 2022, as well as the ongoing geopolitical conflicts and elevated cost and price pressures.
Source: BIMB Securities Research - 31 Mar 2022
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 09, 2024
Created by kltrader | Aug 09, 2024