Malaysia GDP To Grow 5.4%, Says World Bank
Malaysia’s gross domestic product is set to grow 5.4% from 5.2% for 2018, predicts the World Bank, citing high levels of private sector expenditure.
The bank said Malaysia experienced a significant acceleration of growth at 5.9% in 2017, supported by favourable domestic and external factors.
“Malaysia’s growth is expected to remain strong in the near term, albeit at a more moderate pace compared to 2017. In aggregate, Malaysia is forecast to register an economic growth rate of 5.4% in 2018, supported by the continued strength of private consumption.
“With the anticipated decline in public investment, gross fixed capital formation will be driven mainly by the expansion of private sector capital expenditure, which is expected to be sustained by the continued flows of infrastructure projects and capital investments in the manufacturing and services sectors.
“The strength of Malaysia’s export performance is expected to continue into the first half of 2018, in tandem with the ongoing cyclical upturn in global trade, although at a lower rate than the preceding year,” it said in its latest East Asia and Pacific Economic Update.