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Friday, 18 August 2017

Malaysian economy grows at fastest quarterly, as private investments rose by 7.4 %.


Malaysia: The Malaysian economy continued to power strongly at an annualised 5.8 per cent in the second quarter of 2017.
The 5.8 per cent was the fastest quarterly growth since the first quarter of 2015.
Beating market expectations, the gross domestic product overall recorded a 5.7 per cent growth for the first half of the year.
Bank Negara Malaysia governor Datuk Seri Muhammad Ibrahim announced that the full-year growth will be above 4.8 per cent.
Minister of Finance Datuk Sri Najib Razak will announce the revised growth projections during the tabling of Budget 2018.
"Growth prospects will continue to be driven by domestic demand with some lift from exports," Muhammad told a media briefing today.
He was referring to the steady wage and employment growth, ongoing implementation of infrastructure projects and continued external demand.
The strong and resilient fundamentals of the economy will enable Malaysia to manage the current challenges.
On the second quarter, he said all the economic sectors, led by the services and manufacturing sectors, continued to expand between April and June.
Private consumption rose by 7.1 per cent supported by improvements in labour market conditions.
Private investments also rose by 7.4 per cent during the period.
Inflation moderated to 4 per cent during the second quarter and will decline further in line with lower oil prices.
"But we need to watch the oil prices," he added.
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