Malaysia’s economy projected to grow up to 4.8 percent

The Central Bank of Malaysia (BNM) has forecast that Malaysia’ economy will grow by between 4.3 and 4.8 percent this year, the country’s News Strait Times reported on March 24.

Saturday, March 25, 2017 16:40

Malaysia’s economy projected to grow up to 4.8 percent ảnh 1

Illustrative photo (Photo: New Straits Times)

Kuala Lumpur(VNA) – The Central Bank of Malaysia (BNM) has forecast that Malaysia’ economywill grow by between 4.3 and 4.8 percent this year, the country’s News StraitTimes reported on March 24.

Gradual improvement ofglobal growth, commodity prices and domestic demand would lend assistance toeconomic activities, said BNM Governor Muhammad Ibrahim on March 23.

Inflation pressurewill likely to rise due to higher global commodity and energy prices and weakerringgit.

There will be monthswhen the inflation rates go up to above 4 percent, he noted.

The Governor addedthat all sectors are projected to register positive growth this year, with theservices and manufacturing industries as the key contributors to overallgrowth.

The agriculture sectoris also expected to recover after the El Nino weather phenomenon while themining is predicted to remain steady.

The Alliance Bank alsoprojected that Malaysia’s economic growth will be around 4.4 percent with theresilience in private consumption amid manageable headwinds like soft labourmarket and weak consumer confidence.-VNA

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