Malaysia's GDP to grow between 5.3% and 6.3% in 2022

KUALA LUMPUR: The Malaysian economy is expected to grow between 5.3 per cent and 6.3 per cent in 2022, despite the expected slower global economic growth this year, said Bank Negara Malaysia (BNM) governor Tan Sri Nor Shamsiah Mohd Yunus.

She said the projected growth for the remainder of 2022 and 2023 would be driven mainly by private sector expenditure, particularly by the tourism sector, which is expected to normalise to pre-pandemic levels.

"Investment activities also stand to benefit from the realisation of projects such MyDigital and East Coast Rail Link," Nor Shamsiah said at the announcement of Malaysia’s economic growth for the second quarter of 2022 (Q2 2022) here today. - Bernama