Malaysia's economy jumps in Q2

Full-year growth for 2022 would likely be at the upper end of the previously forecast range of 5.3% to 6.3%

Malaysia's economy grew at its fastest annual pace in a year in the second quarter, boosted by expansion in domestic demand and resilient exports, but a slowdown in global growth is expected to pose a risk to the outlook for the rest of 2022, Qazet.az reports.

It was also quicker than any annual rate seen since the second quarter of 2021, when GDP was 16.1% higher than a low year-earlier base.

Seasonally adjusted GDP for April-June was up 3.5% on the previous three months, when quarterly growth was 3.8%.

Malaysia's economy has been on a strong recovery path since the country reopened its borders in April.

"Going forward, the economy is projected to continue to recover in the second half of 2022, albeit at a more moderate pace amid global headwinds," central bank governor Nor Shamsiah Mohd Yunus told a press conference.

Full-year growth for 2022 would likely be at the upper end of the previously forecast range of 5.3% to 6.3%, Nor Shamsiah said.