Malaysia's economy grew 3.7% in 2023, down from 8.7% in 2022, due to global challenges, but domestic recovery factors supported growth.

Malaysia's economy grew at a moderate 3.7% in 2023, down from 8.7% in 2022, due to challenges in global trade, slower global tech growth, geopolitical tensions, and tighter monetary policies. The domestic economy was supported by a recovery in economic activity and labor market conditions, as well as resilient external positions.

February 16, 2024
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