Economic growth in 2023 was worse than expected and lower than the advance estimates. This paints quite a different picture from the rosy narrative of the main analyses and forecasts.
From Paolo Casadio and Geoffrey Williams, Free Malaysia Today
Instead of the 4%-5% official forecast the 3.7% ec
PETALING JAYA: The ringgit is set to continue benefiting from investors selling the US dollar and this will provide Bank Negara the flexibility to reassess its monetary policy this year.
KUALA LUMPUR: Malaysia’s economic performance is anticipated to normalise in the first quarter of 2023 (1Q23), with external trade being the main growth driver for gross domestic product (GDP).
Inflationary pressures are expected to normalise further, continuing a downtrend seen in Malaysia’s headline inflation figures after peaking at 4.7% in August 2022.
PETALING JAYA: The market is convinced that Bank Negara will raise its overnight policy rate (OPR) again tomorrow, although some economists questioned the need for a hike amid rising recessionary risks.