GDP to stay robust

Maybank IB Research said Malaysia’s GDP growth is expected to be firmer in the year ahead despite the outlook of slower global economic growth.

PETALING JAYA: Despite the anticipated slowdown in the global economy next year, Malaysia’s gross domestic product (GDP) is expected to remain robust, with growth likely to at the higher end of the government’s official target range of 4% to 5% in 2024.

The optimistic outlook is supported by the steady labour market improvement, electrical and electronics (E&E) sector recovery, continued tourism revival and the rollout of approved investments and government’s strategic plans under the Madani Economy, according to Hong Leong Investment Bank (HLIB) Research.