Bank Negara Malaysia today released three reports, namely the Annual Report 2021, Economic and Monetary Review 2021, and the Financial Stability Review for Second Half 2021.

The three reports are aimed at facilitating greater understanding among key stakeholders by varying the degree of technicality of these publications.

The Annual Report 2021 details the workings of the bank in 2021, and is written for a general audience to inform readers about its mandate and various functions.

The Economic and Monetary Review is a more technical publication and focuses on the bank’s economic assessments and forecasts.

The biannual Financial Stability Review is also a technical publication detailing the bank’s analysis of risk assessment and outlook with regards to financial stability.

Collectively, the following are highlights of the three reports:

- Malaysia's 2022 GDP is expected to grow between 5.3 pct and 6.3 pct, up from 3.1 pct in 2021, driven by stronger private sector recovery;

- Unemployment rate is expected to decline further in 2022 to around 4.0 pct;

- Private consumption is expected to grow 9.0 pct in 2022 versus 1.9 pct in 2021, while private investment is also expected to increase 5.3 pct against 2.6 pct in 2021;

- Public investment is projected to expand 9.6 pct in 2022 from a contraction of 11.4 pct in 2021;

- Public consumption is expected to expand at 1.2 pct in 2022 versus 6.6 pct in 2021;

- The services sector is expected to grow 6.9 pct in 2022, followed by construction 6.1 pct, manufacturing 5.2 pct, mining, and quarrying 2.5 pct, and agriculture 1.5 pct;

- Exports are projected to grow 10.9 pct in 2022 from 26.0 pct in 2021, while gross imports are expected to expand 8.1 pct in 2022 from 23.3 pct in 2021;

- Current account is expected to register a higher surplus of 4.2 pct-4.7 pct of GDP in 2022 from 3.5 pct in 2021;

- Headline inflation is expected to average between 2.2 and 3.2 pct in 2022, while core inflation is expected to average higher between 2.0 pct and 3.0 pct in 2022;

- BNM's total assets stood at RM551.61 bln in 2021, and paid RM5 bln dividend to the government;

- Adverse income, employment shock scenario can result in up to 4.0 pct loan default by end-2024;

- Currency in circulation up 15.1 pct to RM150.1 bln in 2021, strongest growth in two decades;

- SME loans under repayment assistance remain high at 36.5 pct, with new application moderated;

- Suspicious transaction reports rose 43 pct to 191,387 in 2021; and

- Internet, phone scams among top complaints on BNMTELELINK in 2021 – Bernama

Source:
courtesy of THE STAR

by THE STAR

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