Investment banks upbeat on Malaysia's GDP outlook, ticks geopolitical risk as downside

KUALA LUMPUR: Maybank Investment Bank (Maybank IB) has raised its 2024 and 2025 real gross domestic product (GDP) forecasts to 4.7 per cent from 4.4 previously, and 5.1 per cent versus 5.0, respectively, as a result of the better-than-expected first-quarter growth (1Q 2024).

Malaysia’s economy expanded at a higher rate of 4.2 per cent in the quarter under review from 2.9 per cent in 4Q 2023, driven by stronger private expenditure and a positive turnaround in exports.