PETALING JAYA: Although economic experts are forecasting the gross domestic product (GDP) to grow by a decent 4% to 5.5% this year, they say global headwinds could potentially suppress corporate Malaysia’s economy.
THE government expects the economy to grow by 5.5% to 6.5% in 2022, up from last year’s modest expansion of 3.1%. MARC Ratings Bhd’s forecast of 5.7% thus comes in within the ballpark of the government forecast.
THIS time last year, we anticipated a sharp V-shaped recovery in 2021 based on the assumption that nationwide lockdowns would be a thing of the past. Given the prolonged lockdowns in 2021, we see the shape of the economic recovery coming in as a smaller “V”.
MALAYSIA was part of the “East Asian miracle” in the 1990s. But unlike South Korea and Taiwan, its economic growth run stalled and as a result, came up short in taking the country to the next level of development.