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PETALING JAYA: Although there are growing signs that the world economy may slow down or even potentially fall into a recession from higher interest rates due to rising inflationary pressures next year, there are measures that the country can mobilise to cushion the impact on its economy.
Projections about economic growth in the second quarter (2Q23) are split after the country’s Industrial Production Index (IPI) for June 2023 showed a year-on-year contraction of 2.2%.
PETALING JAYA: The new Budget 2023 to be tabled on Friday is expected to see a smaller budget deficit and economists believe closer inspection and scrutiny on spending plans will help keep a lid on expenses.