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Malaysia’s economy to grow 4.5% in 2023: IMF

The Malaysian economy is expected to grow by 4.5% in 2023, said the International Monetary Fund (IMF).
Malaysia’s economy to grow 4.5% in 2023: IMF ảnh 1Illustrative image. (Photo: AFP/VNA)

Kuala Lumpur (VNA)💙 - TheMalaysian economy is expected to grow by 4.5% in 2023, said the InternationalMonetary Fund (IMF).

Inflation is projected toremain elevated at 3.3% this year, with likely persistence in core inflation,amid evidence of a build-up of demand-side pressures, according to IMF’s reportreleased on June 1.

Malaysia's economic growth recovered strongly from the pandemic in 2022, after reaching a modest levelin 2021, thanks to pent-up domestic demand and strong export performance, itsaid.

External risks include therisk of a sudden downturn in the global economy. Geo-economic fragmentationand geopolitical tensions leading to trade restructuring, supply disruptions,and increased input costs could negatively affect Malaysia's growth prospects.

♑ The IMF called on the Bank ofMalaysia to further tighten monetary policy, which it said will help ensure inflation expectations remain well-anchored.

The IMF welcomes theadministration's plans under the 12th Malaysia Plan which aims to strengthen economicresilience, move towards net-zero greenhouse gas emissions and promoteinclusive growth ./.
VNA

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