Economic confidence in Malaysia rises significantly in past 3 years


Economic confidence in Malaysia was higher in 2017 compared to the past three years, a global survey of accountants has found.

The quarterly Global Economic Conditions Survey (GECS), which charted a rise in confidence from the second half of 2014, found that Malaysia is already benefitting from relatively high levels of confidence on a global level.

Produced by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants), the GECS reported that confidence at the end of Q4 in Malaysia was higher than it had been for several years.

Edward Ling, head of ACCA Malaysia, said in a statement that these improving global conditions will be maintained through 2018.

Narayanan Vaidynathan, head of business insights at ACCA, added: “Despite a small dip, the relatively high level of global confidence reflects a stronger economic outlook in the US and India.”

“The overall outlook for 2018 is a promising one in terms of global economic growth and confidence. Some of the signs of a global economic recovery in 2017 look set to continue, with improvements for developed and emerging markets,” he added.

He also said that while growth is expected to slow in China, this should be compensated by gains elsewhere.