Analysing Malaysia’s economy from three lenses - macro, meso, and micro - he said the World Bank is forecasting Malaysia's economy to grow 5.5% this year."Malaysia is doing reasonably well, even with the impact of the pandemic compounded by the war in Ukraine, Chinese lockdowns, rising interest rates and fears of stagflation - low growth, high inflation - as we are surrounded by uncertainty," he said.He also noted that consumer spending is gradually recovering, as is job creation.
He went on to say that high commodity prices benefit Malaysia because the country exports commodities such as palm oil, liquefied natural gas and petroleum, which account for 80% of all commodities." great tensions between the United States and China, and due to security-related issues, the US is sort of diverging in trade, and some of it is coming to East Asia, as well as Malaysia.
He also noted that Malaysia has low US dollar-denominated external debt and significant international reserves.
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