Malaysia’s GDP growth to hit 7% in 2022, says S&P Global economist

image-20220801105320-1S&P Global Market Intelligence projects Malaysia's gross domestic product (GDP) growth to hit 7% by 2022 due to strengthening domestic demand, strong exports and the reopening of international borders.

标准普尔全球市场情报局预测,由于国内需求增强、出口强劲和国际边界重新开放,马来西亚的国内生产总值(GDP)到 2022 年将增长 7%。


According to S&P Global Market Intelligence chief economist for Asia-Pacific Rajiv Biswas, the Malaysian economy rebounded in the first half of the year after significant economic disruption due to the Covid-19 waves.

根据标准普尔全球市场情报亚太区首席经济学家Rajiv Biswas的说法,在因 Covid-19 浪潮导致经济严重中断后,马来西亚经济在今年上半年反弹。


“The rebound in domestic demand, strong exports and reopening of international borders have helped to support economic growth, with GDP growth forecast to be around 7% in 2022,” said Rajiv in response to’s queries on 27th July .

“国内需求的反弹、强劲的出口和国际边界的重新开放有助于支持经济增长,预计 2022 年 GDP 增长将在 7% 左右,” Rajiv 在7 月 27 日回应 的询问时表示。


Although global economic growth is expected to moderate, a global recession is not currently projected in the baseline scenario for 2022, Rajiv said.

Rajiv说,尽管预计全球经济增长将放缓,但目前在 2022 年的基线情景中预计不会出现全球衰退。

Global real GDP growth is expected to slow to 2.7% in 2022 and 2.6% in 2023, the economist noted.

这位经济学家指出,预计 2022 年全球实际 GDP 增长将放缓至 2.7%,2023 年将放缓至 2.6%。


“Positive economic growth in the Asia-Pacific region is helping to support global economic expansion in 2022. Mainland China is showing a gradual rebound after lockdowns in the second quarter of 2022 and Asia-Pacific’s emerging markets are achieving solid growth.

“亚太地区的积极经济增长有助于支持 2022 年的全球经济扩张。中国大陆在 2022 年第二季度封锁后呈现逐步反弹,亚太新兴市场实现稳健增长。


“In advanced countries, household finances are generally in good shape, thanks to accumulated savings and asset appreciation in 2020–2021. In a cycle dominated by consumer spending, households are positioned to drive the global expansion forward, despite headwinds from rising world inflation and surging energy prices,” he explained.

“在发达国家,由于 2020-2021 年积累的储蓄和资产升值,家庭财务状况总体良好。在以消费者支出为主的周期中,尽管世界通胀上升和能源价格飙升带来不利影响,但家庭仍有望推动全球扩张。”他解释说。


BNM to embark gradual path towards normalising monetary policy



Bank Negara Malaysia (BNM) is expected to embark on a gradual path to normalise its monetary policy settings by further withdrawing the degree of monetary accommodation as the economic recovery continues, Rajiv said.



He was responding to a question on whether Malaysia will see another rate hike soon, as the US Federal Reserve is considering another rate hike to curb inflation due to the slowdown in the economy.



“The US and EU [European Union] economies are showing weakening growth momentum, with the US facing the risk of a technical recession.



“Worldwide, the transition from pandemic to endemic for Covid-19 is enabling improving growth in travel, tourism, and other consumer service sectors that were hit hard during the 2020 recession,” he said.

他说:“在全球范围内,Covid-19 从大流行到流行的转变正在促进旅游业和其他在 2020 年经济衰退期间遭受重创的消费服务部门的增长。”


“Although BNM has already tightened monetary policy by several small steps, the pace of policy tightening has been gradual since inflation pressures are more constrained in Malaysia,” he added.