Malaysia's central bank optimistic on national economic growth

The Bank Negara Malaysia on March 29 forecast that the country’s economy is projected to grow between 4-5% in 2023, amidst challenges rising from slowing global growth.

According to experts, Malaysia in particular will be a bright spot, contributing to reviving the world economy in the context of a gloomy economy. (Photo: theedgemarkets.com)

The central bank said further improvement in labour market conditions, continued implementation of multi-year investment projects and higher tourism activities are expected to support private consumption and investment growth.

BNM Governor Tan Sri Nor Shamsiah Yunus affirmed that the Malaysian economy will continue to grow and not fall into recession and the country's financial system will remain a source of strength for the economy in supporting the financial needs.

According to experts, in 2023, the global economic environment still faces many challenges due to slow growth and tight monetary policies in major economies, along with many trade activities slowing down. However, the Asian region in general and Malaysia in particular will be a bright spot, contributing to reviving the world economy in the context of a gloomy economy./.

VNA

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