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Malaysia forecast to outperform other larger economies in 2023

Malaysia is forecast to outperform many larger economies next year with the support of its Budget 2023, according to Asian real estate technology group Juwai IQI. Its co-founder and group chief executive officer Kashif Ansari said that while other countries in Europe and North America face significant risk of recession in 2023, they expect Malaysia’s GDP to grow by 4.5%, lower than this year's growth of about 6.5%, which is still excellent by global standards. Juwai IQI welcomed the budget measures intended to make house ownership and purchase more affordable and equitable across all parts of society. The budget dedicates about MYR2.1bn (USD448m) directly to making housing more affordable and equitable. An additional MYR3bn was also dedicated for the Housing Credit Guarantee Scheme.

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