MARC: GDP on track for up to 4.5% expansion

MARC expects inflation to range between 2.5% and 3% in 2024, as compared to the forecast of 2.8% for 2023. — Bloomberg

PETALING JAYA: Malaysia’s gross domestic product (GDP) is expected to grow between 4% and 4.5% in 2024 from the estimated 4% last year, according to Malaysian Rating Corp Bhd (MARC).

In a statement, the rating agency said its projection of the country’s economy gaining momentum this year was based on the latest trade data, which pointed towards nascent signs of recovery in the external sector, alongside resilient domestic demand.