Underperforming forex reserves
Despite a record trade surplus in 2022, Malaysia’s international exchange reserves underperformed, declining on an annual basis last year. So, where did the money go?
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Despite a record trade surplus in 2022, Malaysia’s international exchange reserves underperformed, declining on an annual basis last year. So, where did the money go?
PETALING JAYA: The country’s sticky core inflation, which has burdened policy makers in the fight against rising price pressures, is expected to finally lose steam in 2023.
Malaysia’s export growth is forecast to fall to as low as 1.5% this year from 25% in 2022 and 26.1% in 2021 as demand weakens from major trading partners due to high inflation and interest rates.
MUFG Global Markets Research has forecast Brent breaking north of $100/barrel again by the summer and averaging $101/barrel this year.
Consumers will remain burdened by price pressures moving into 2023, as inflation continues to be stubbornly high in Malaysia.