Malaysia’s Gross Domestic Product (GDP) growth is likely to exceed the earlier projection of between 6.5 % - 7% in 2022, according to Malaysian Prime Minister Datuk Seri Anwar Ibrahim.
Malaysian Prime Minister Datuk Seri Anwar Ibrahim speaks at a meeting (Photo: //www.thestar.com.my/)
Kuala Lumpur (VNA) - Malaysia’s Gross Domestic Product (GDP) growth is likelyto exceed the earlier projection of between 6.5 % - 7% in 2022, according to Malaysian Prime Minister Datuk Seri Anwar Ibrahim.
Addressing a parliamentmeeting on December 20, Anwar, who is also the FinanceMinister, said the country's economy maintained a recovery trend in late 2022with encouraging economic performance following the reopening of the economy.
However, he expressed concern about the labourmarket and employment in Malaysia.
The labour participation has not returned fullyto the level before the COVID-19 crisis when the unemployment rate in October was3.3%, and the jobless rate for youth below 25 years old is still worryinglyhigh at 10%.
He said the government will spare no effort to strengthen theeconomic indicators, restore investor confidence, and rebuild the country.
The International Trade and Industry Ministryand the Finance Ministry of Malaysia have been tasked with improving the facilities forbusiness operations and raising the quality of investments in order to generatehigh-income jobs for Malaysians, especially the youth, he noted./.
Malaysia has attracted a total 193.7 RM (nearly 44 billion USD) worth of approved investment from January to September this year, up a 2.5% increase compared to the same period last year, according to Malaysian Investment Development Authority (MIDA).
Malaysia’s property sector will continue to face many challenges in 2023, due to a clear oversupply of properties in certain sectors and locations in the country, said insiders.
Malaysia’s trade rose by 15.6% year-on-year in November to 238.17 billion RMB (about 53.6 billion USD), marking the 22nd straight month of double-digit growth, according to the Malaysia External Trade Development Corporation (MATRADE).
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Malaysian Prime Minister Datuk Seri Anwar Ibrahim speaks at a meeting (Photo: //www.thestar.com.my/) 
