Analysis by Region - Asia Pacific
We expect domestic demand to be a key driver of economic growth over 2022-2023 as activities normalise and labour market conditions improve following the end of most coronavirus pandemic-related restrictions. That said, Russia's invasion of Ukraine has created new sources of risk. We think Malaysia's economy will be negatively affected mainly via higher energy and commodity prices and lower foreign demand. However, Malaysia is a net oil exporter, so it should be more shielded than some regional peers. Overall, we forecast GDP to grow 6.1% in 2022 and 6.4% in 2023. We still expect interest rates to be raised twice by a total of 50bps, starting in Q3.
- Malaysia: Downside risks to our GDP growth forecasts have risen
- Forecast overview
- Recent developments
- Short-term outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- Risk warnings
- What to watch out for
- Exposure to key global risks
- Long-term prospects
- Background
- Economic development
- Structure of the economy
- Balance of payments and structure of trade
- Politics
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