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Malaysia’s 2022 economic growth to surpass official projections: Finance Minister

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Mindy Tan

Mindy Tan

Published Mon, Sep 12, 2022 · 09:02 PM
    • Malaysia is on track to surpass its GDP growth forecast despite 2022 being a challenging year with the strengthening of the US dollar and slowing down of the global economy.
    • Malaysia is on track to surpass its GDP growth forecast despite 2022 being a challenging year with the strengthening of the US dollar and slowing down of the global economy. PHOTO: BLOOMBERG LIVE

    Malaysia’s Finance Minister Zafrul Aziz expects the country to beat its official growth estimates of between 5.3 per cent and 6.3 per cent for 2022, on the back of strong private consumption.

    Speaking at the Recovery and Resilience: Spotlight on Asean Business forum in Singapore on Monday (Sep 12), he noted that Malaysia is likely to chart stronger growth in the third quarter of this year, after the economy expanded 8.9 per cent in the previous quarter.

    The new full-year estimate for growth will be announced during the annual budget (on Oct 7), he said.

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