Affin Bank Bhd expects Malaysia’s economy to grow further by 5.2 per cent this year compared to its 5.0 per cent estimate in 2024.
The bank said the projection is in line with the Finance Ministry’s (MoF) forecast of between 4.5 per cent and 5.5 per cent.
Group chief economist Alan Tan said this year will bring steady economic growth, especially for an open economy like Malaysia because its electrical and electronics (E&E) exports are expected to rebound in tandem with global semiconductor sales.
“Export figures in 2023 were not very good but they began to recover in 2024, supported by global semiconductor sales. They will likely continue to recover going into 2025, we are seeing a pickup in demand for semiconductors.
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