Economic Outlook 2024

The Government anticipated Malaysia´s Gross Domestic Product (“GDP”) for the year 2024 to grow within the range of 4-5 %. With the MADANI Economy reforms to be implemented, the Government is confident to achieving a growth rate nearing 5 %.

The service sector is forecasted to grow, being supported by the recovery in the tourism industry in thepost-pandemic era. The construction sector is expected to expand driven by all subsectors (civil engineering, residential, and non-residential).

The revenue collection is expected to increase to RM307.6 billion (previously RM303.2 billion), trimming the fiscal deficit to 4.3 % (compared to the target of 5 % in 2023) of the GDP.

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Newsflash Malaysia

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