Finance Minister Datuk Seri Tengku Zafrul Aziz warned of potential economic challenges for Malaysia in 2023, highlighting risks of a global slowdown despite positive GDP growth expected through Q3 2022. Malaysia's heavy reliance on international trade, accounting for 120% of GDP, and its subsidies, key to maintaining low inflation (2.2%-3.2%), may face sustainability issues. The IMF has also cautioned about a possible global recession, revising its economic growth forecasts downward.MALAYSIA WILL FIND IT HARD TO AVOID RECESSION NEXT YEAR
Finance Minister Datuk Seri Tengku Zafrul Aziz warned of potential economic challenges for Malaysia in 2023, highlighting risks of a global slowdown despite positive GDP growth expected through Q3 2022. Malaysia's heavy reliance on international trade, accounting for 120% of GDP, and its subsidies, key to maintaining low inflation (2.2%-3.2%), may face sustainability issues. The IMF has also cautioned about a possible global recession, revising its economic growth forecasts downward.
