Soft global demand and other headwinds to challenge economic momentum in the second half of this year, it says.
PETALING JAYA: RAM Rating Services Bhd said Malaysia’s economic growth will stay weak in 2023, with gross domestic product growth projected to decelerate to 4%-5% from 8.7% last year.
The volume of exports, meanwhile, declined by 6.4% y-o-y in H1 2023 attributed largely to a high base effect. “A spike in global food and commodity prices due to supply distortion by geopolitics or tariffs would be a key downside risk that could inflate domestic prices and hinder local consumption demand.
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