Recently, the latest data released by the National Bank of Malaysia showed that the country's economy ended 2024 with strong momentum, with a full year growth rate of 5.1%. This figure is not only much higher than the previous year's 3.6%, but also exceeds the government's set growth target of 4.8% to 5.3%. However, while celebrating this achievement, analysts and observers have also pointed out potential risks, especially the external tariffs announced by US President Trump, which may hinder Malaysia's economic growth momentum.

According to data from Bank of China, the Malaysian economy grew by 5% year-on-year in the fourth quarter of last year, slightly lower than the 5.4% in the third quarter, but still exceeding the official and market expectations of 4.8%. This steady growth is mainly due to the sustained expansion of domestic demand and the rebound of exports. In addition, policies such as the government's new industrial blueprint and national energy transformation roadmap have further promoted investment growth and injected new impetus into the sustained development of the economy.

The Malaysian government maintained political stability in the second year of its unity government, which also provided strong guarantees for economic growth.RinggitIt has also become one of the most outstanding emerging market currencies, further enhancing investors' confidence in the Malaysian economy.

However, the uncertain global economic outlook and the imposition of tariffs by the United States have posed even more severe challenges to the Malaysian economy. Analysts point out that Trump's tariff measures may impact Malaysia's exports, thereby affecting its economic growth. Especially for Malaysian companies that rely on the US market, this risk is particularly prominent.

In addition, Trump's tariff measures may also affect the reform plan implemented by Malaysian Prime Minister Anwar Ibrahim, especially the measures to reduce fuel subsidies. Some analysts believe that due to the uncertain global economic outlook and the upcoming Sabah state elections, Anwar Ibrahim may face pressure to postpone the implementation of reducing gasoline subsidies. This may not only further push up inflation, but also have an impact on the operating costs of enterprises.

Despite facing numerous challenges, the Malaysian government remains confident in the future. Guoxing predicts that Malaysia's economic growth this year is expected to reach 4.5% to 5.5%. The government stated that it will continue to promote the optimization of economic structure and industrial upgrading, strengthen cooperation with the international community to address potential risks and challenges.