Infrastructure projects to spur domestic demand

PETALING JAYA: Proactive government spending, which was a boon to Malaysia’s gross domestic product (GDP) expansion of 3.3% year-on-year (y-o-y) in the third quarter of 2023 (3Q23), will continue to spur the country’s economic growth in the coming year.

The Malaysian economy expanded 3.9% y-o-y in the first nine months of this year, mainly due to the increase in the construction (7% y-o-y), services (5.7% y-o-y) and manufacturing (1.1% y-o-y) sectors.