Malaysia’s economy is recovering in 2022, with three consecutive quarters of growth and a decrease in unemployment. However, a global economic slowdown in 2023, exacerbated by US rate hikes, inflation, and the war in Ukraine, poses risks. The government stresses the importance of discipline, long-term planning, and incorporating ESG principles. Corporates are urged to invest locally, support small businesses, and promote financial literacy. Fiscal responsibility and subsidy rationalisation are key for future resilience.
Also available in ‘New Sunday Times’, ‘The Sunday Post’.
