- December 29, 2022
- Posted by: Stratford Team
- Category: Economy
KUALA LUMPUR: The Malaysian economy is anticipated to start moderating due to the effects of global economic instability in the months ahead in 2023, said the Department of Statistics (DOSM) today.
Citing the Economic Outlook 2023 by the Finance Ministry, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the Malaysian economy is forecast to moderate between 4.0 per cent and 5.0 per cent in 2023, in line with the International Monetary Fund’s (IMF) global forecast.
In its World Economic Outlook report for October 2022, the IMF projected the global economy to expand albeit at a more moderate rate of 2.7 per cent in 2023.
Meanwhile, Mohd Uzir said the growth forecast for the Asian region was revised to 4.2 per cent in 2022 from 4.3 per cent, and to 4.6 per cent from 4.9 per cent in 2023, based on the recent Asian Development Outlook Supplement for December 2022.
“This was due to the recurrent lockdowns in China, the Russian invasion of Ukraine,…
