KUALA LUMPUR: The World Bank has projected a four per cent growth for the Malaysian economy this year, following an expected 7.8 per cent expansion in 2022. 

The World Bank attributed this to a gloomy global economy outlook. 

Higher than expected inflation, tighter financial conditions, slowdown in major economies as well as prolonged war in Ukraine could cause a sharper-than-expected slowdown in global growth, the bank said in its report.

Global growth is expected to come in at 1,7 per cent this year, half of what the bank expected six months ago while advanced economies are projected to grow at only 0.5 per cent.

The United States was projected to grow at 0.5 per cent thai year while Eurozone might record a flat growth at zero per cent. 

The World Bank lead economist for Malaysia Dr Apurva Sanghi said the growth forecasted for Malaysia had taken into account China's projected growth of four per cent. 

"When we did our forecast it was based on what our global teams did the research on, and they projected for china;s growth this year to be four per cent, down one percentage point from just six months ago," he said at a briefing here today.

"But everyday there is a new data coming out from china so we will revise our growth forecast for China and Malaysia in April," Sanghi added.

https://www.nst.com.my/business/2023/02/876144/malaysias-economy-slow-down-after-78pct-growth-expected-2022-world-bank