KUALA LUMPUR (July 16): The Asean+3 Macroeconomic Research Office (Amro) has cut its forecast for Malaysia’s economic expansion to 4.7% for 2024, from the previous estimate of 5%, to account for slower-than-expected export growth.

However, the regional macroeconomic surveillance organisation raised its 2025 gross domestic product (GDP) growth forecast for Malaysia to 4.9%, on an expected strong rebound in exports, Hoe Ee Khor, the chief economist of Amro, said at a press briefing.

“The main reason is the export sector has been a bit slow to pick up, but it is still a very strong growth,” Khor told the press at the virtual briefing on Tuesday. “The export recovery is a bit slow this year, but will be stronger next year.”

Further, investments made in the past few years will be implemented this year and in 2025, which will help support Malaysia’s economy, he said.

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