Research outfit revises GDP projection 5% up

Growth driver: SERC says the faster pace of economic growth this year, compared with the 4.2 achieved in 2016, will be driven by sturdy domestic demand, especially in private consumption and investment, and strengthening exports. — Bernama

KUALA LUMPUR: Malaysia’s economic outlook has improved. But the Socio-economic Research Centre (SERC) says it remains cautiously optimistic on the country’s growth prospects amid the current unpredictable global economic, financial and political landscape.

The independent research institution yesterday raised its 2017 gross domestic product (GDP) growth projection to 5% from the initial estimate of 4.6% on the back of higher-than-expected exports and economic growth in the first quarter of the year.