Diminished global expansion projected

It is noteworthy that Malaysia is Asia’s only net oil and gas (O&G) exporter and the world’s second-largest palm oil exporter.

PETALING JAYA: Global economic growth is anticipated to slow down this year, with United States rate hikes moderating in the second half amid lingering energy shocks and supply chain disruptions, says HSBC Global Private Banking.

It estimated that global gross domestic product (GDP) growth will decline to 3.4% and 2.9% in 2022 and 2023, respectively, down from 5.8% in 2021.