The Madani Economy Framework, outlined in the recently released Retabled Budget for 2023, will play a central role in driving Malaysia’s economic transformation.
Resilient domestic demand will support moderate growth in 2H 2023 despite external limitations. Though private consumption softens, it is still poised to be the primary driver of growth.
The ongoing growth in the labour market, increase in minimum wage rates, completion of long-term projects, positive domestic financial conditions, and increased support for consumption and investment are expected to drive growth.
