GDP to grow more than 5% this year, says Treasury sec-gen

Tan Sri Dr Mohd Irwan Serigar Abdullah was appointed chairman of TRX City Sdn Bhd and Bandar Malaysia Sdn Bhd

PUTRAJAYA: The government is confident that Malaysia's economic growth will surpass five per cent this year, driven by external factors such as exports, private investments and private consumption, said Treasury Secretary General, Tan Sri Dr Mohd Irwan Serigar Abdullah.

He said the government is also positive that the growth would be above what Bank Negara Malaysia had targeted with the private sector being the economic driver.

Malaysia's gross domestic product (GDP) rose 5.8 per cent in the second quarter this year, after climbing 5.6 per cent in the first.   Following the robust growth, the central bank raised its 2017 growth forecast to above 4.8 per cent. The last forecast in March predicted growth of 4.3 to 4.8 per cent.

"We are confident of touching above five per cent for this year . We hope the Sea Games, 1Malaysia People's Aid among others, will act as an economic multiplier,” he told reporters after launching the Volunteering For International Professionals (VIP)  2017 here today.  

Asked about the ringgit's fluctuation, Mohd Irwan Serigar said : " The ringgit and interest rate have stabilised and this will help the economy to grow."