KUALA LUMPUR: Malaysia's economic growth is expected to surpass the initial projection of 7.0 per cent for 2022 after recording its fastest quarterly growth in the third quarter of 2022.
Bank Negara Malaysia governor Tan Sri Nor Shamsiah Mohd Yunus said the continuation of existing and new infrastructure projects, higher tourist arrival as well as easing of supply chain disruption would help support growth next year.
"As a whole, because of the very comfortable growth in the first nine months, the growth this year will exceed the 7.0 per cent projected earlier," she told reporters after a briefing on Malaysia Q3 2022 gross domestic product (GDP) here today.
"Growth for 2023 is projected to expand between 4.0 per cent and 5.0 per cent backed by continued labour market improvements, realisation of multi-year projects and higher inbound tourism activity.
"The outlook, however, is subject to risks, stemming mainly from global factors," Nor Shamsiah added.