Malaysia's economy to slow down after 7.8pct growth expected in 2022: World Bank

KUALA LUMPUR: The World Bank has projected a four per cent growth for the Malaysian economy this year, following an expected 7.8 per cent expansion in 2022.

The World Bank attributed this to a gloomy global economy outlook.

Higher than expected inflation, tighter financial conditions, slowdown in major economies as well as prolonged war in Ukraine could cause a sharper-than-expected slowdown in global growth, the bank said in its report.

Global growth is expected to come in at 1,7 per cent this year, half of what the bank expected six months ago while advanced economies are projected to grow at only 0.5 per cent.