ECONOMY / KEY INFRASTRUCTURE UPDATES
- In 2Q 2022, the Malaysian economy grew at a rate of 8.9% (cf. 1Q 2022: 5.0%), supported by stable domestic and external demand. The key sectors of services and manufacturing) led the growth.
- An 18.3% growth in private consumption reflected increased consumer spending.
- The Overnight Policy Rate further increased to 2.5% from 2.25% in July following the lead of the US Fed rates.
- The Ringgit depreciated 4.6% against the strengthening US dollar, increasing the value of our reserves in RM.
- The Malaysian GDP is expected to improve from 5.5% to 6.5% in 2022, barring global and domestic disruptions.
