Malaysia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia
IMF Staff Country Reports, March 10, 2024
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- Malaysia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia
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Bibliographic details
- Published: March 10, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400269837.002
Executive summary and macroeconomic assessment
- The 2023 Article IV Consultation finds that Malaysia’s growth momentum has slowed but "remains resilient to external headwinds."
- Monetary policy has paused its tightening cycle.
- Fiscal policy is consolidating.
- The ringgit "had been under pressure through most of 2023."
- The government’s commitment to reform priorities in its national strategic plans "is yet to fully materialize," leaving the economy’s path to high-income status "uncertain."
- Projected output gaps are described as positive.
- Near-term macroeconomic context includes "lower yet solid growth," "limited fiscal buffers," and ongoing energy price liberalization.
Policy guidance and near-term priorities
- Maintain an overall tight policy stance to safeguard price stability.
- Rebuild fiscal and external buffers.
- Continue targeted support to lower-income segments while consolidating fiscal policy.
- Manage energy price liberalization cognizant of limited fiscal buffers and distributional impacts.
Structural reforms and medium-term priorities
- Structural reforms are recommended to support medium-term growth.
- Priority reform areas highlighted in the consultation frameworks include:
- Improving labor market outcomes and increasing incomes.
- Addressing climate change.
- Promoting digitalization.
- Enhancing governance.
- The government faces the challenging task of implementing its "well-crafted and concerted policy frameworks."
Subject areas and keywords (as provided)
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, External debt, International organization, Labor, Monetary policy, Revenue administration, Wages
- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), balance of payments position, CPI weight, Global, growth momentum, income deficit, market functioning, quarterly balance of payments, staff appraisal, staff assessment, staff statement, Wages
Publication and document identifiers
- Publication date: March 10, 2024
- Pages: 114
- Volume: 2024
- Issue: 073
- Series: Country Report No. 2024/073
- DOI: https://doi.org/10.5089/9798400269837.002
- Stock No: 1MYSEA2024001
- ISBN: 9798400269837
- ISSN: 1934-7685
Source: Malaysia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia (IMF Staff Country Report No. 2024/073).
Content in this bundle
- 1mysea2024001