KUALA LUMPUR: Bank Negara Malaysia Governor Tan Sri Nor Shamsiah Mohd Yunus said Malaysia is unlikely to go into a recession this year as sustained domestic demand and spending are set to continue anchoring growth.
However, she said that the latest official gross domestic product (GDP) projections would only be released in the new 2023 Budget to be tabled on Feb 24.
"We do expect that growth will continue in 2023, but at a much more moderate pace due to slower external demand.
"The important thing I want to emphasise is that we are seeing sustained improvement in the job market and we are going to benefit from the positive impact from China's reopening,'' she told reporters during a press conference on the fourth quarter (Q4) and 2022 GDP statistics released today. -- BERNAMA