Malaysia GDP seen moderating to 5% this year

Widening surplus: A file picture showing an oil rig off the coast of Johor. OCBC Bank says the first-order effect from rising oil prices has already been observed in the widening current account surplus. — Reuters

PETALING JAYA: Malaysia’s gross domestic product (GDP) is expected to moderate slightly to 5% in 2018, with growth fundamentals appearing solid on the back of improving global fundamentals and higher oil prices.

According to the OCBC Bank 2018 Global Outlook report, Malaysia’s economic growth will likely stay supported by further traction seen in private consumption, investment spending and trade into 2018.