World Bank ups Malaysia GDP growth forecast to 5.2%

THE World Bank has revised upwards Malaysia’s gross domestic product growth forecast for this year to 5.2% from 4.9% in June, on the back of a stronger-than-expected growth of 5.7% in the first half of the year.
Originally, the World Bank had forecast Malaysia’s economy to grow by 4.3%.
World Bank Malaysia country manager Faris Hadad-Zervos said it expected Malaysia to continue on its trajectory towards high-level growth.
“Upward estimates reflect Malaysia as an open economy, so the favourable external environment has helped fuel Malaysia’s continued growth.
“Also, policies within the country have helped spur domestic demand and public investments.
“These are all very positive things,” he said at a press conference to unveil the World Bank’s October 2017 edition of the East Asia and Pacific Economic Update in Kuala Lumpur today.
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