Juwai IQI: Strong oil and gas market lifts Malaysian economy in 2022

Strong oil and gas and higher commodity prices will bolster the Malaysian government’s balance sheet, leading to more infrastructure investments, which will directly correlate with gross domestic product (GDP) growth, said Juwai IQI group co-founder and group chief executive officer Kashif Ansari.

In a statement today, Kashif said higher revenue would reduce the budget deficit, giving the government more room for fiscal manoeuvring to manage future crises.

“We expect oil prices to remain high as demand is still very strong. This will be good for Malaysia. The International Energy Agency (IEA) forecasts that global demand for crude oil in 2022 will surpass the levels of the past two years.”

Read more: The Malay Mail

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