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Malaysia’s economy to bounce back in 2022: AMRO

Malaysia’s economy is expected to grow strongly this year, regaining momentum after COVID-19 infections disrupted its recovery in the third quarter of last year, according to the ASEAN Plus Three Macroeconomic Research Office (AMRO).
Malaysia’s economy to bounce back in 2022: AMRO ảnh 1People on a street in Malaysia's Kuala Lumpur on May 28, 2020 (Photo: AFP/VNA)
Kuala Lumpur (VNA) – Malaysia’s economy isexpected to grow strongly this year, regaining momentum after COVID-19infections disrupted its recovery in the third quarter of last year, accordingto the ASEAN Plus Three Macroeconomic Research Office (AMRO).

The office said while the country was currently experiencinga resurgence of infection by the Omicron variant, symptoms were much milder,thanks in large part to the almost 80 percent vaccination rate of thepopulation.

The continuing vaccination programme and adequate healthcarecapacity should keep Malaysia open to allow a sustained rebound in domesticdemand. Accordingly, policies should be adjusted to support a robust andsustainable recovery, said AMRO.

According to the lead economist of a AMRO team, Dr. SumioIshikawa, the Malaysian economy will grow by 6 percent in 2022 from 3.1 percentin 2021.

This year's growth will be driven by a sustained rebound indomestic demand, as economic and social activities continue to recover despitethe Omicron wave, he said, adding that Malaysia's exports should remainsupported by buoyant global demand, as well as increased production capacity./.
VNA
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