Economic confidence in Malaysia is significantly higher than in recent years, according to a quarterly global survey of accountants.
According to the latest Global Economic Conditions Survey (GECS), produced by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants), Malaysia is benefitting from relatively high levels of confidence on a global level.
Edward Ling, Head of ACCA Malaysia, says, ‘As an open and trade-dependent economy, confidence at the end of Q4 in Malaysia was higher than it has been for several years. The expectations are that improving global conditions will be maintained through 2018.’
Narayanan Vaidynathan, Head of Business Insights at ACCA, says, ‘Despite a small dip, the relatively high level of global confidence reflects a stronger economic outlook in the US and India.
‘The overall outlook for 2018 is a promising one in terms of global economic growth and confidence. Some of the signs of a global economic recovery in 2017 look set to continue, with improvements for developed and emerging markets.
‘While growth is expected to slow in China as the government focuses on risk management, this should be compensated by gains elsewhere.’
Fieldwork for the Q4 2017 GECS took place between 24 November and 11 December 2017 and attracted 4,011 responses from ACCA and IMA members around the world, including more than 250 CFOs.