In Kuala Lumpur, TA Securities Research has predicted a more robust Gross Domestic Product (GDP) growth trajectory of 5.0% in 2024. This optimistic outlook is driven by the expectation of a sustained global economic recovery, particularly in China, which will drive heightened external demand.
According to the research house, Malaysia’s real GDP increased by 3.3% year-on-year (y-o-y) in the third quarter of 2023, coming above its revised expectations during the GDP preview and the median forecast of analysts polled by Bloomberg. This growth is expected to continue due to the Malaysian government’s unwavering commitment to pro-growth initiatives and increased political stability.
The potential for this continued growth has the potential to bolster confidence among foreign investors, potentially resulting in a greater influx of capital and portfolio investments. However, TA Securities remains vigilant and open to adjustments as needed.