Malaysia Lowers Economic Growth Target to 5% Annually Amid Export Slowdown, Aims to Attract Investments Through Transition to High-Value Industries

Malaysia aims for at least 5% economic growth annually until 2025, lowering previous target
Slowdown due to global economic conditions and drop in exports
Growth to be supported by transition to high-value industries and increased investments
Malaysia wants to be preferred destination for investors by enhancing competitiveness
Government to increase budget allocation for economic plan to 415 billion ringgit
Central bank said full-year growth likely at lower end of previous 4-5% forecast

reuters.com

Relevant topic timeline:

8/18/2023

Govt confident to meet 4-5pct GDP forecast in 2023, PM says

### Summary 📈 The Malaysian government is confident in meeting its GDP forecast of four to five percent for 2023, as the domestic economy continues to show healthy trends. ### Facts - 📊 Prime Minister Anwar Ibrahim states that the government is confident in achieving the four to five percent GDP forecast for 2023. - 💪 Multiple indicators demonstrate a vibrant domestic economy with healthy growth trends. - 💼 Anwar, who is also the finance minister, emphasizes the government's commitment to supporting the momentum of domestic growth. - 💰 Efforts will be made to ensure a conducive business environment and attract both domestic and foreign investments. - 🌍 The government will focus on developing strategic sectors to drive economic expansion, including digitalization and sustainability initiatives. - 💼 Anwar believes that these measures will contribute to a strong and resilient Malaysian economy in the coming years.

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Topics

Posted 9/11/2023, 6:25:22 AM

Malaysia Lowers Economic Growth Target to 5% Annually Amid Export Slowdown, Aims to Attract Investments Through Transition to High-Value Industries

Malaysia aims for at least 5% economic growth annually until 2025, lowering previous target
Slowdown due to global economic conditions and drop in exports
Growth to be supported by transition to high-value industries and increased investments
Malaysia wants to be preferred destination for investors by enhancing competitiveness
Government to increase budget allocation for economic plan to 415 billion ringgit
Central bank said full-year growth likely at lower end of previous 4-5% forecast

reuters.com

Relevant topic timeline:

8/18/2023

Govt confident to meet 4-5pct GDP forecast in 2023, PM says

8/18/2023

Malaysia posts weakest GDP growth in nearly 2 years as exports slump

9/15/2023

Sitharaman Optimistic About 10.5% GDP Growth This Fiscal Year, Says Timing Key for IDBI Bank Sale

9/17/2023

Low Inflation May Slow GDP Growth, Threaten Fiscal Targets

9/18/2023

UAE Revenue Jumps 31.8% in 2022 on Oil and Non-Oil Growth, Building Fiscal Surplus Despite Cautious Spending

9/24/2023

Anwar: Malaysia Has Potential to Become a Dynamic Economy Again Through Resources, Workforce, and Supportive Policies

Malaysia's Prime Minister Anwar Ibrahim believes that Malaysia has the potential to become a thriving economy once again, thanks to its ample resources, skilled workforce, and supportive policies.

9/24/2023

Former US Treasury Secretary Calls for India to Grow at 8% for 'Transformative Changes,' Expand Mandates of Development Banks to Deal with Climate Change

10/6/2023

World Bank Forecasts Slowing Economic Growth in Sub-Saharan Africa for 2023

10/9/2023

China on Track to Hit 2023 GDP Growth Target Despite Headwinds, Says Government Think Tank