KUALA LUMPUR (Nov 20): In a note released on Monday, TA Securities Research forecasts the Malaysian economy growing at a stronger pace of 5.0% in 2024. This optimistic outlook is driven by expectations of a sustained global economic recovery, particularly in China, which is expected to drive increased foreign demand.

According to the research house, Malaysia’s real GDP grew by 3.3% year-on-year in the third quarter of 2023, exceeding its revised expectations during a review of GDP and the median forecast of analysts polled by Bloomberg. The Malaysian government’s commitment to growth initiatives is expected to continue, further supported by increasing political stability.

TA Securities expects this to boost confidence among foreign investors, potentially leading to greater capital inflows and portfolio investments. Currently, the research house maintains its growth projection of 4.6% y-o-y for the fourth quarter, in line with its updated annual growth target of 4.0%.

In an earlier GDP outlook report, TA Securities had anticipated the possibility of falling below 4.0%, citing the possibility of weaker growth in the third quarter. However, it outperformed and the research house remains cautious and open to adjustments as necessary, especially in response to any significant setbacks in Malaysia’s economic trajectory.

By Editor

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