Despite contracting 0.3% in 2023, Germany overtook Japan to be the third world’s biggest economy with a gross domestic product of US$4.5 trillion (RM21.5 trillion). Official data also showed Japan netted 1.9% growth, or US$4.2 trillion, last year.
Malaysia is set to achieve the 2023 gross domestic product growth target of 4% to 5% based on the good economic momentum seen so far, the Statistics Department said.
Malaysia’s encouraging performance in the third quarter (3Q) of 2023 provides a strong signal for a positive trajectory to achieve the resilience needed to support the restructuring of the economy intended under the Madani Economy initiatives, said Prime Minister Datuk Seri Anwar Ibrahim.