KUCHING, April 21: Despite the world facing economic challenges affected by the Ukraine-Russia conflict and COVID-19, Malaysia’s economy is set to grow – about four to five percent this year, maintaining its macroeconomic stability.
“Malaysia’s trade and commerce has increased to RM236 billion in March,”
“As of 20th April, 300,000 tourists have arrive in Malaysia and this has greatly boosted the economy,” said Shan Saeed, the Chief Economist from Juwai IQI Global Malaysia (APAC Region).
He further disclosed that Malaysia’s ability to pull such number is attributed to its population being 99 percent vaccinated, complemented with a stable infrastructure and the government’s commitment in supporting the growth of local businesses.
“Above all, the most important variable for Malaysia is its domestic consumption, the aggregated demand. As a start this is a positive move for 2022,” Shan added.
Due to the country’s stable macroeconomy, it will definitely welcome more global investors to Malaysia.
Countries such as Europe and the USA Shan remarked, are currently facing one of its worst inflation.
He said the global conomy will only be able to recover in 2025 as it has shown an abysmal growth rate. -TVS
