Economic normalisation likely means returning to slow growth trajectory

Economic reset: A motorist riding by the Kuala Lumpur skyline. Malaysia needs strategies to accelerate structural economic transition, enhance productivity, and promote quality investment, all of which can be found in the 12MP.

THE government expects the economy to grow by 5.5% to 6.5% in 2022, up from last year’s modest expansion of 3.1%. MARC Ratings Bhd’s forecast of 5.7% thus comes in within the ballpark of the government forecast.

If the expected growth surge in 2022 bears out, Malaysia’s gross domestic product (GDP) should rise to above RM1.46 trillion, which is higher than 2019’s RM1.42 trillion. The country’s growth recovery amid significant headwinds has been commendable thus far.