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S&P: Escaping middle income trap a continuous challenge for Malaysia

Mimi Sabreena 11:43:00 PM Informasi

KUALA LUMPUR (Oct 23): Escaping the middle income trap would continue to be a challenge for Malaysia, S&P Global Ratings said, adding that the modest income levels and vulnerability to global economic conditions constrain the country's economic resilience.

"Several factors temper these weaknesses: an open, diversified, and competitive economy with a moderately flexible labour market, reasonably developed infrastructure and a high savings rate," the international rating agency said in its "Banking Industry Country Risk Assessment: Malaysia" report today.

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