In Kuala Lumpur, Malaysia (Photo: AFP) Kuala Lumpur (VNA) – Bank Negara Malaysia (BNM) on February 4forecast that the Malaysian economy will expand between 5.5 percent and 6.5percent this year, underpinned by continued expansion in global demand andhigher expenditure in private sector.
BNM Governor Nor Shamsiah told the local press that Malaysia iswell positioned to gain as global growth and trade bounce back.
She pointed out that strong external demand for electricaland electronics (E&E) products and commodities, particularly from thecountry’s key trade partners including China, the US and the regionaleconomies, would contribute to further expansion of the export-oriented sectors.
The Governor added that the continuation of major investmentprojects in key economic sectors, such as in E&E manufacturing and digitalinvestments, would lift growth further.
Nevertheless, risks to the outlook for 2022 remain, arising from a weaker-than-expected global growth, worsening supply chain disruptions, and the emergence of severe and vaccine-resistant COVID-19 variants of concern, she said.
She added that Malaysian banks are takingefforts to integrate environmental, social and governance considerations intheir governance, business strategy, operations and risk management./.
