From cost of living to healthcare and economic challenges, what will 2023 hold for Malaysia? A researcher weighs in.
as its growth rate surpassed expectations quarter after quarter. The first quarter of 2022 saw a growth rate of 5 per cent year-on-year. This was a remarkable rate compared to the 3.9 per cent that was achieved in the fourth quarter of 2021.
Global demand for Malaysia’s exports was also up. Exports grew as borders opened and global pent-up demand materialised. It was not surprising that Malaysian exports increased almost 19 per cent in the third quarter of 2022. The Russia-Ukraine conflict put a major obstacle in the way of Malaysia’s recovery. Although the war did not directly affect Malaysia’s growth, it did lead to higher prices.
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