November 18, 2023 | 17:04 (GMT+7)
Malaysian economy likely to grow 4% in 2023, 4-5% in 2024: Central bank
Governor of the Bank Negara Malaysia (BNM) Abdul Rasheed Ghaffour has expressed belief that the Malaysian economy will expand by 4% this year and 4-5% next year, after reviewing the strong indicators of the economy.
Speaking to the press on November 17 after a meeting to announce the country's GDP in Q3, Rasheed said Malaysia's economic fundamentals remain strong and supportive of growth moving forward, adding that GDP had exceeded pre-pandemic levels.
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A corner of Kuala Lumpur, Malaysia |
The Malaysian economy expanded by 3.3% from a year earlier in the July-September period, according to data from the BNM - the central bank, higher than the figure of 2.9% in the second quarter, driven by strong domestic spending
He downplayed concerns about the ringgit currency, which has fallen around 6% against the U.S. dollar this year, saying that it did not reflect strength in the economy.
Source: VNA