KUALA LUMPUR, May 17 — The Malaysian economy is expected to return to above pre-pandemic levels with the 2022 gross domestic product growth forecast to 7.0 per cent from 6.2 per cent given stronger-than-expected first quarter GDP growth, said Standard Chartered Bank .
StanChart said the “growth recovery was broad-based” which saw all components expanding quarter-on-quarter , with the exception of investment and trade in services remaining below pre-pandemic levels as of Q1. The bank noted that the labour market has also continued to recover, with strong employment growth and tighter conditions translating to higher wage growth.
“We expect the process of normalising monetary policy from emergency settings to continue. While inflationary pressure is not substantial, the current low policy rate is not seen as commensurate with the economic recovery,” it said.
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