{"id":14121,"date":"2022-06-13T14:25:11","date_gmt":"2022-06-13T06:25:11","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=14121"},"modified":"2022-06-13T14:25:20","modified_gmt":"2022-06-13T06:25:20","slug":"world-bank-keeps-malaysias-economic-growth-forecast-at-5-5","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=14121","title":{"rendered":"World Bank keeps Malaysia\u2019s economic growth forecast at 5.5%"},"content":{"rendered":"\n

Kuala Lumpur, June 13<\/strong> — The World Bank on Monday maintained Malaysia\u2019s economic growth forecast this year at 5.5%, driven mainly by a robust rebound in consumption demand.<\/p>\n\n\n\n

According to the Washington-based bank, Malaysia\u2019s private consumption growth is forecast to reach 8.5% this year \u2013 its fastest pace since 2008, Xinhua reported.<\/p>\n\n\n\n

The strong recovery in household spending is premised on a further dissipation of public health concerns in the absence of a severe resurgence of Covid-19 caseloads, as well as continued policy support and gradual improvements to employment and income prospects, it added.<\/p>\n\n\n\n

\"economic\"<\/figure><\/div>\n\n\n\n

The World Bank also projected that Malaysia\u2019s economy would grow at 4.5% in 2023 and 4.4% in 2024.<\/p>\n\n\n\n

The Malaysian economy contracted by 5.6% in 2020 but grew at 3.1% last year on the back of a strong vaccination programme and the easing of mobility barriers.<\/p>\n\n\n\n

The economy continued to recover this year, expanding by a healthy 5% in the first quarter of 2022.<\/p>\n\n\n\n

The growth was largely driven by an increase in domestic demand following the resumption of most economic activity as pandemic-related containment measures were further eased.<\/p>\n\n\n\n

NMT<\/a> as reported by Bernama<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kuala Lumpur, June 13 — The World Bank on Monday maintained Malaysia\u2019s economic growth forecast…<\/p>\n","protected":false},"author":1,"featured_media":14122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[524],"tags":[],"class_list":["post-14121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309.jpg",970,647,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309-150x150.jpg",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309-300x200.jpg",300,200,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309-768x512.jpg",640,427,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309.jpg",640,427,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309.jpg",970,647,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309.jpg",970,647,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309.jpg",970,647,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309.jpg",970,647,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/06\/bukit-bintang-monorail-station-309.jpg",712,475,false]},"author_info":{"info":["Editor"]},"category_info":"Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14121"}],"version-history":[{"count":2,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14121\/revisions"}],"predecessor-version":[{"id":14124,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14121\/revisions\/14124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/14122"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}