Kuala Lumpur, October 08, 2024 – The Europe Today: The World Bank Group has revised its economic growth forecast for Malaysia, increasing it to 4.9% for 2024, marking a significant 14% rise from the previous estimate of 4.3% made in April. Apurva Sanghi, the World Bank’s lead economist for Malaysia, attributed this upgrade to both domestic and external factors contributing to an improved economic outlook.
Sanghi noted that the global economy is performing better than anticipated six months ago, positively influencing Malaysia’s growth prospects. On the domestic front, he highlighted the country’s positive economic momentum, increasing political stability, and a more favorable policy environment that encourages and mobilizes greater investment as key drivers behind the enhanced growth projection.
