No recession in 2023, says SERC FMTNews FMTBusiness
The Socio-Economic Research Centre said that Malaysia is not going into a recession this year but will face slower growth due to inflation and cost-of-living pressures.
Lee added that the slow start is also due to the momentum coming off from a higher base last year, when the country recorded an 8.7% GDP growth rate. The research institute also predicted the overnight policy rate to go up 25 basis points to 3.0% sometime in May this year. However, Lim said that the Malaysian economy should be able withstand another hike.During the launch of its economic quarterly report, SERC highlighted the precarious situation that prospective senior citizens face as Malaysia prepares itself to become an ageing country by 2030.
Another one of its suggestions is the introduction of reverse mortgage, a concept that is still unfamiliar to many Malaysians but has gained considerable traction overseas.
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