Malaysia GDP to Grow 5%

Malaysia’s economy can grow 5% or more this year, based on the country’s first-half performance, said Treasury Secretary General Mohammad Irwan Serigar Abdullah, Bernama reported. “The country’s economy is performing well, and I personally think we can achieve 5% or more in GDP growth, backed by the strengthening economic environment, the increase in exports and investments, and job creation. We also see the oil price stabilizing at between $47 and $50 per barrel, and I think the ringgit will be getting better,” he said, commenting on a recent Bloomberg report. “The ringgit was the most stable major Asian currency during the first quarter of this year,” he said. Malaysia’s economy recorded 5.6% in the first quarter of this year, boosted by strong domestic demand and private expenditure. Mohd. Irwan said Malaysia’s economy was never “in doom and gloom”, and that the economic slowdown was due to the volatility in oil price and global market sentiment.