Economist: Malaysia to grow 4.5-5.5% in 2018 and 2019

KUALA LUMPUR: Malaysia's growth trajectory is expected to remain stable at 4.5 to 5.5 per cent this year and in 2019 despite fiscal restructuring and consolidation, thanks to sustained private sector and export demand.

Sunway University Business School Professor of Economics, Prof Dr Yeah Kim Leng, said key improvement in future growth prospects lay in supporting private investments given the anticipated rise in investor confidence in response to tangible institutional reforms and economic restructuring.

"This would enhance competitiveness, reduce corruption and leakages, and strengthen public finance," he said at the Rehda Institute-organised CEO Series 2018 Annual Property Developers Conference here today.

Yeah, who was one of the panellists, said firms in Malaysia, however, needed to drive industry upgrading through technological advancements and innovations specific to each industry's needs and competitive dynamics.

Last year, Malaysia's gross domestic product grew 5.9 per cent fuelled by strong domestic demand, improved labour market conditions and wage growth, as well as improved external demand for the country's manufactured products and commodity exports.

The one-day CEO Series 2018 discussed new ideas towards working together in stimulating and rebuilding the economy post-14th General Election with all leaders of various industry groups giving input to the government before the upcoming Budget 2019 as well as looking at new solutions for the issue of unsold property units. - Bernama