MALAYSIA is maintaining its 2023 GDP growth forecast of 4.0-5.0%, Deputy Finance Minister I Ahmad Maslan said. 

“The Finance Ministry has not made any changes with regard to the economic growth projection for this year.

“However, we do appreciate the World Bank’s statement as the statement was based on its own analysis, and we respect their findings,” he said to reporters after launching the Malaysia-China Entrepreneur Macro Health Forum 2023 in Kuala Lumpur today.

According to the World Bank, Malaysia’s economic growth is expected to moderate to 3.9% this year from an earlier projection of 4.3% in April amid a substantial deceleration of external demand.

It said domestic demand would continue to support Malaysia’s economic resilience this year, but noted that limited fiscal space remained a key challenge for the economy. – Bernama, October 3, 2023.