KUALA LUMPUR: The International Monetary Fund (IMF) has revised the outlook for Malaysia’s real gross domestic product (GDP) by a notch to 4.4 per cen...
: The International Monetary Fund has revised the outlook for Malaysia’s real gross domestic product by a notch to 4.4 per cent this year from its earlier prediction of 4.3 per cent.In its latest World Economic Outlook entitled “Steady but slow, resilience amid divergence”, IMF predicted the GDP growth to remain at 4.4 per cent in 2025.For global growth, the IMF estimated it to be at 3.2 per cent for last year and to continue at the same pace in 2024 and 2025.
The pace of expansion is low by historical standards, owing to both near-term factors, such as still-high borrowing costs and withdrawal of fiscal support, and longer-term effects from the COVID-19 pandemic and Russia’s invasion of Ukraine; weak productivity growth, and increasing geoeconomic fragmentation.
On the upside, looser-than-necessary fiscal policy and assumed projections could raise economic activity in the short term while risking costly policy adjustments later on. Inflation could fall faster than expected amid further gains in labour force participation, allowing central banks to bring easing plans forward.
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