Malaysian economy to grow 5.3-6.3 pct in 2022

KUALA LUMPUR, March 30 – The Malaysian economy is expected to grow between 5.3 and 6.3 percent in 2020 on the back of both domestic and external demand amid the prevailing challenging operating environment.

While there will be challenges posed by the developments from the Covid-19, ongoing geopolitical tensions and elevated cost prices and pressures, continued growth will be driven by the continued expansion in demand underlined by the tech upcyle, removal of containment measures and reopening of international borders, as well as improvement in employment and income prospects and supportive policies, said Bank Negara Malaysia Governor, Tan Sri Nor Shamsiah Mohd Yunos at a virtual press conference today.

The central bank released its annual report for 2021, as well as the Economic and Monetary Review 2021 (EMR 2021) and Financial Stability Review for second half 2021 (FSR 2H2021).