5% growth likely for Malaysia in 2013

Manokaran: ‘We expect the domestic economy to either bottom out by the first quarter or mid-second-quarter of 2 013.

PETALING JAYA: The economy is forecast to grow 5% year-on-year in 2013, with domestic demand remaining the main support amid a still volatile external environment.

Alliance Investment Bank Bhd chief economist Manokaran Mottain expects growth to come from private consumption and investment, brought about by the various incentives announced in Budget 2013 as well as other factors such as a healthy labour market, steady income growth as well as an accommodative monetary policy.