Malaysia’s 2022 GDP likely to surpass forecast

Kuala Lumpur (VNA) - Malaysia’s Gross Domestic Product (GDP) growth is likely to exceed the earlier projection of between 6.5 % - 7% in 2022, according to Malaysian Prime Minister Datuk Seri Anwar Ibrahim.

Addressing a parliament meeting on December 20, Anwar, who is also the Finance Minister, said the country's economy maintained a recovery trend in late 2022 with encouraging economic performance following the reopening of the economy.

However, he expressed concern about the labour market and employment in Malaysia.

The labour participation has not returned fully to the level before the COVID-19 crisis when the unemployment rate in October was 3.3%, and the jobless rate for youth below 25 years old is still worryingly high at 10%.

He said the government will spare no effort to strengthen the economic indicators, restore investor confidence, and rebuild the country.

The International Trade and Industry Ministry and the Finance Ministry of Malaysia have been tasked with improving the facilities for business operations and raising the quality of investments in order to generate high-income jobs for Malaysians, especially the youth, he noted./.