Finance Minister Tengku Zafrul assured that Malaysia is unlikely to face a recession and is on track to achieve a 5.3-6.3% GDP growth in 2022. He noted strong preliminary growth for Q2, driven by sectors like retail, wholesale, oil and gas, and commodities. Malaysia’s wholesale and retail trades reached record sales in May, and growth forecasts are supported by agencies like S&P, IMF, and the World Bank. However, Zafrul highlighted the need to monitor global risks, given the IMF’s concerns about a potential global recession.ZAFRUL: NO RISKS OF A RECESSION
Finance Minister Tengku Zafrul assured that Malaysia is unlikely to face a recession and is on track to achieve a 5.3-6.3% GDP growth in 2022. He noted strong preliminary growth for Q2, driven by sectors like retail, wholesale, oil and gas, and commodities. Malaysia’s wholesale and retail trades reached record sales in May, and growth forecasts are supported by agencies like S&P, IMF, and the World Bank. However, Zafrul highlighted the need to monitor global risks, given the IMF’s concerns about a potential global recession.
