In Kuala Lumpur, Malaysia (Photo: Xinhua) Kuala Lumpur (VNA) – Malaysia’s economy is likely toexpand at a slower rate this year as the country gradually recovers from thepolicies and measures implemented during the lockdowns, said Prof. GeoffreyWilliams from the Malaysia University of Science and Technology (MUST).
At the 2022 Malaysia Economic and Strategic Outlook Forum, Williamssaid that while the country would see economic growth, the figures would not beas optimistic as predicted by international forecasters due to a variety offactors, including the lockdown policies.
Accordingto the professor, the country's gross domestic product will grow by around 3.5 per cent because thelockdown policies have affected all aspects of the domestic economy, with the medianwages falling.
He also expectedinflation to be around 1.6 percent. It may rise slowly, but it will be below 2 percent by the end of 2022.
On theimpact of Budget 2022, Williams emphasised the importance of establishing anindependent fiscal institution in the country to help understand the impact ofbudgetary discussions from a forensic perspective, which would report directlyto both the parliament and the people./.
