Malaysia's economy projects growth of 5.5% in 2022 Malaysia's economy shrank 4.5% in the third quarter, contracting by more than expected after its rebound in the second quarter, but the central bank expects a quick recovery as coronavirus restrictions are eased and economic activities resume. The third quarter performance was markedly worse than the median forecast for a 1.3% year-on-year contraction from a Reuters poll of economists. But Bank Negara Malaysia (BNM) said recent indicators suggested a more positive momentum going forward. A pickup in production and construction activities, an improved labour market, and strong external demand would all support a recovery, the central bank said, projecting economic growth between 5.5%-6.5% in 2022. "The growth outlook remains subject to COVID-19 risk factors globally and domestically, stability in global financial markets
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Work To Begin On 120 Construction Projects The federal government has approved allocations for more than 120 construction projects. Works minister Fadillah Yusof said letters of acceptance would be issued soon for these projects. He said the projects would be in line with his ministry’s key performance indicators (KPIs) for the first 100 days and will help boost the construction sector. He said they would help improve public infrastructure and provide more amenities to the public. “Development projects, including highways, help in economic recovery. We will go to the ground to ensure the smooth progress of these projects,” he told reporters after a working visit to the Ketereh-Kok Lanas segment of the Kota Bharu-Kuala Krai expressway. Fadillah said work on the 6.2km segment was 76% complete and it was expected
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