KUALA LUMPUR, April 1 — The World Bank has maintained its 2024 economic growth outlook for Malaysia at 4.3 per cent in its April 2024 East Asia and Pacific Economic Update on...
The World Bank has maintained its 2024 economic growth outlook for Malaysia at 4.3 per cent in its April 2024 East Asia and Pacific Economic Update on expectation of a likely recovery in global growth and the easing of restrictive financial conditions. ― Bernama picKUALA LUMPUR, April 1 — The World Bank has maintained its 2024 economic growth outlook for Malaysia at 4.
In addition, gross exports are projected to rebound by 4.8 per cent from a contraction of 7.9 per cent last year in tandem with the expected recovery in global trade.“Given Malaysia’s exposure to China, the slowing growth in China is going to be a problem. Excluding China, growth in the region is estimated to pick up to 4.6 per cent this year, up from 4.4 per cent in 2023.
“Malaysia is a country which has under-achieved and has tremendous potential,” he said, stressing that the country needs to address rising household debts which squeeze consumption. According to the April 2024 update, private and public debts have increased significantly as a share of GDP in most of the EAP economies.
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