The World Bank Group has upgraded Malaysia’s economic growth forecast to 4.9 percent in 2024, an increase of 14 percent from its initial 4.3 percent forecast set in April, according to Apurva Sanghi, its lead economist for Malaysia.

He said both domestic and external factors back the upgraded growth forecast as the global economy is doing much better than expected six months ago.

On the domestic front, Apurva (above) said the positive economic momentum, rising political stability, and an increasingly conducive policy environment that boosts and mobilises more investments...