Asian Economy: Overview, Growth and Development- World bank economist: Malaysia's economy doing well.

Byline: S. KAMAL HAYDER KAZMI

The Malaysian economy is doing reasonably well in the face of global challenges, according to World Bank Group lead economist for Malaysia, Apurva Sanghi. Analysing Malaysia's economy from three lenses - macro, meso, and micro - he said the World Bank is forecasting Malaysia's economy to grow 5.5 percent this year. This, Apurva said, is higher than the global growth of 2.9 percent and regional growth of 4.4 percent "Malaysia is doing reasonably well, even with the impact of the pandemic compounded by the war in Ukraine, Chinese lockdowns, rising interest rates and fears of stagflation - low growth, high inflation - as we are surrounded by uncertainty," he said. Apurva was speaking in "The Nation" programme on Bernama TV yesterday. He also noted that consumer spending is gradually recovering, as is job creation. On the meso lens, he said according to a World Bank survey, businesses in Malaysia are gradually increasing sales to pre-Covid-19 levels, thanks to the government's...