Economic recovery to continue in second half

Strong showing: A promotional advertisement is seen at a mall in Bukit Bintang, Kuala Lumpur. In the second quarter, the economy saw higher growth of 8.9%.

MALAYSIA’S economy in 2022 is expected to expand at the upper end of the range of 5.3% to 6.3%, even after taking into account the slower global growth, according to Bank Negara governor Tan Sri Nor Shamsiah Yunus.

“The growth is supported by private sector spending amid higher tourist arrivals and the recovery in labour market conditions, which will more than offset the moderation in external demand,” Nor Shamsiah says at a media briefing.