Tuesday, 18 January, 2022

Malaysia's GDP to expand 6.2 pct in 2022: economist

  • Sun Online Desk
  • 12th January, 2022 04:12:17 PM
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Malaysia's GDP to expand 6.2 pct in 2022: economist

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Malaysia's gross domestic product (GDP) is expected to grow by some 6.2 percent in 2022, riding on the success of its national vaccination program, according to an economist with Standard Chartered Bank (SCB).

Edward Lee, the bank's chief economist for the Association of Southeast Asian Nations and South Asia, said on Tuesday that additional factors include sustained external demand and a pick-up in domestic demand, Xinhua reported.

Malaysia, which had suffered serious disruptions due to COVID-19, would see this as an extremely favorable base effect, hence the growth projection for 2022 is 6.2 percent, Lee said.

He also noted that the country's successful vaccination program, with over 78 percent of its population having been vaccinated, would facilitate a sustainable and confident economic reopening.

On external demand, Lee said that Malaysia stands among the economies that have remained robust from the supply side disruption, which will serve as another growth driver in 2022.