Malaysia’s gross domestic product (GDP) is set to moderate to 4.2% in 2023 amid external headwinds and tightening of monetary policy in many economies, said the Malaysian Industrial Development Finance Berhad) MIDF Research.
Malaysia’s gross domestic product (GDP) is set to moderate to 4.2% in 2023 amid external headwinds and tightening of monetary policy in many economies. (Photo: AFP)
Kuala Lumpur (VNA) - Malaysia’s grossdomestic product (GDP) is set to moderate to 4.2% in 2023 amid externalheadwinds and tightening of monetary policy in many economies, said the MalaysianIndustrial Development Finance Berhad (MIDF) Research.
In a note, the research house said thesofter growth is mainly due to the deceleration in external trade performance,considering the anticipated slowdown in global demand.
Due to higher interest rates, pessimistic business sentimentas reflected in S&P Global PMI surveys and elevated inflationary pressures,as well as domestic demand in the United States and European Union, will dampenthis year, it said.
MIDF Research said Malaysia’s real exports growth isprojected to expand partially supported by improvingservices exports via tourism activity, noting that China's earlier-than-expected reopening will provide an extra boost to Malaysia’s services exports aswell as tourism activity.
Earlier, Bank Negara Malaysia governor Tan Sri NorShamsiah Mohd Yunus announced that Malaysia’s economy recorded abetter-than-expected expansion of 5.6% in the first quarter of 2023 drivenmainly by private sector expenditure.
She said the growth in 2023 was supported by furtherexpansion of household spending, continued investment activity, improvinglabour market and higher tourism activities.
Bank Negara Malaysia also announced that the economyis no longer in crisis and continues to gain strength./.
Malaysia is targeting to push the renewable energy (RE) capacity in its national electricity supply to 70% by 2050 to create new economic opportunities for the nation and attract multinationals, according to the country's Minister of Economy Rafizi Ramli.
Economists expect year-on-year gross domestic product (GDP) growth of Malaysia would be moderate, at between 5.2% - 5.7% in the first quarter of 2023, against 7% in the last quarter of 2022, on the absence of the base effect.
Malaysia posted a 2.7% increase in the total number of jobs in the first quarter of this year to 8.81 million jobs compared to 8.57 million jobs in the same period last year, according to the Department of Statistics Malaysia (DOSM).
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Malaysia’s gross domestic product (GDP) is set to moderate to 4.2% in 2023 amid external headwinds and tightening of monetary policy in many economies. (Photo: AFP) 
