People in Malaysia line up before entering a shopping mall. (Photo: Bernama) Kuala Lumpur (VNA) – Malaysia’s gross domestic product (GDP) growth is projected at 6.2 percent in 2022, buoyed by its vaccination accomplishments, according to Standard Chartered’s ASEAN and South Asia chief economist Edward Lee.
He added that sustained external demand and a pick-up in domestic demand were also attributable to the growth.
Although the country’s growth last year was disrupted, it translated into an extremely favourable base effect, hence the 6.2 percent growth projection for 2022, Lee said.
He lauded the country’s vaccination success that currently exceeds 78 percent of the population, which facilitates a sustainable and confident economic reopening.
In regard to external demand, the chief economist believed that Malaysia stands among the economies that have benefited strongly from the supply side disruption, which will serve as another growth driver in 2022.
FDI interest is really very strong, particularly in electric and electronics (E&E) sector, he continued.
Lee warned that the emergence of COVID-19 variants would be a key downside risk to tourism and economic activities./.
