The 2024 Global Forecast Report by the Visual Capitalist Team has suggested the following growth forecast for global and major nations:
There is a sense of optimism and a brighter 2024, barring any Black Swans. However, both the U.S. and China are expected to show lower real GDP growth, compared to 2023. That will have an impact on Malaysia.
From the Emerging Markets growth forecast, Vietnam and the Philippines show around 6% real GDP growth. Meanwhile, Indonesia, the largest ASEAN economy will grow by 5% while Malaysia may record a growth of 4.4%, slightly better than the 2013-2022 average. We need a new “game-changer” to record a higher growth rate.
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