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Al Jazeera
Al Jazeera
Business

Malaysia could reach high-income status by 2028, World Bank says

World Bank Malaysia Economy
Pedestrians cross a road in front of Malaysia's landmark Petronas Twin Towers in Kuala Lumpur on January 12, 2021 [Mohd Rasfan/AFP]

Malaysia could reach high-income nation status as early as 2028 amid better-than-expected economic growth and a strengthening currency, a top World Bank economist has said.

Malaysia is on track to hit the milestone after the Washington, DC-based lender raised the country’s 2024 growth forecast from 4.3 percent to 4.9 percent, Apurva Sanghi, lead economist for Malaysia, said on Thursday.

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