Malaysia on track to hit high-income status

The World Bank expects Malaysia's GDP to grow 4.5% in 2025 and 4.3% in 2026. — Reuters

KUALA LUMPUR: The World Bank says the Malaysian economy is in a “good place” with sustainable growth and believes that if the current per capita output can be sustained for the next three to four years, the country could achieve high-income status by 2028.

The World Bank’s lead economist for Malaysia, Dr Apurva Sanghi, said the local economy’s strong first half (1H24) growth beat expectations, leading the international multilateral lender to revise its real gross domestic product (GDP) growth projection up by 14% or 0.6 percentage point to 4.9% for the year from 3.7% in 2023.