Malaysia to grow 5.75 percent in 2022: IMF

People in Malaysia on May 28, 2020 (Photo: VNA)

Kuala Lumpur (VNA) – The International Monetary Fund (IMF) has forecast that Malaysia’s real gross domestic product (GDP) growth will accelerate to about 5.75 percent in 2022.

According to the IMF’s 2022 Article IV Mission with Malaysia, the economy is set for a gradual recovery, thanks to the authorities’ impressive vaccine rollout and swift implementation of economic policy support measures. The recovery nevertheless remains uneven, with sizeable economic slack, and substantial medium-term pandemic-related risks.

The IMF team recommended additional near-term targeted fiscal support towards vulnerable and hard-hit segments of the economy and productive investments.

The country’s inflation, meanwhile, is projected to stabilise at about 2.5 percent despite transitory supply-chain challenges.

Last year, Malaysia grew 3.1 percent, with the Government expecting this year’s growth at between 5.5 and 6.5 percent./.

VNA