Malaysia records 8.7pct GDP growth in 2022, highest in over two decades

Malaysia’s economic growth rose to a 22-year record high of 8.7 percent in 2022 against 3.1 percent in the previous year, contributed by positive growth in all sectors, according to the Department of Statistics Malaysia (DoSM).

In a separate statement, Bank Negara Malaysia (BNM) said the nation’s gross domestic product (GDP) expanded by seven percent in the fourth quarter of 2022 (4Q 2022) versus 14.2 percent in 3Q 2022, as support from the stimulus measures and low base effect waned...