https://www.theedgemarkets.com/article/malaysia-will-not-escape-global-slowdown-2023-says-zafrul
21 Sep 2022
Malaysia will not escape global slowdown in 2023, says Zafrul
KUALA LUMPUR (Sept 21): Malaysia will not be spared from the expected global economic slowdown in 2023, as all three of the world’s major economic drivers — Europe, China and the US — are expected to grow at a slower rate next year compared with this year. As such, the country must be prepared to do what needs to be done to mitigate the anticipated impact from the economic slowdowns in the world over, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. Speaking at a press conference after officiating the “Developing & Financing Green Housing in Asia” conference organised by Cagamas on Wednesday (Sept 21), Tengku Zafrul warned that a slowdown is inevitable for a country with an open economy such as Malaysia, as its major trade partners decelerate. “To say that we will not be affected by the... global slowdown is not real, memang (surely) we (Malaysia) will be affected by the global slowdown. All of the world’s countries will be (affected) because this time now, all the major economies are expected to slow down — Europe, US and China. “If you remember during the global financial crisis in 2007 to 2008, China grew 7% to 8%, so that helped mitigate the slowdown in the world economy, but this time all three economies are expected to slow down in 2023 compared to 2022, but this is again a forecast, it is only September,” he said.
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Post time 23-9-2022 07:46 AM
Post time 23-9-2022 08:24 AM
