Challenging 2017 for Malaysian economy as country drops in global rankings
Photo: KUALA LUMPUR, MALAYSIA: Bukit Bintang retail cluster / CC BY SA 3.0
Despite an economic slowdown and a demotion in several global rankings, economists say Malaysia’s economy is relatively stable considering global challenges and outlook.
KUALA LUMPUR - Malaysia’s rankings have dropped in three global indexes: from 18th to 25th on the World Economic Forum’s Global Competitiveness Index (pdf), from 22nd to 23rd on the World Bank’s Ease of Doing Business, and from 32nd to 35th on the Global Innovation Index. Additionally, the country’s lead on the United Arab Emirates is fast narrowing, according to Thomson Reuters’ Global Islamic Economy Index.
While Malaysia is not the only country that has dropped in global rankings, local economists told Salaam Gateway the situation should not be overlooked and suggest that a comprehensive study is necessary to determine Malaysia’s move in the right direction.
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Zurinna Raja Adam