Malaysia's GDP to remain on growth path into 2019

KUALA LUMPUR: Malaysia's gross domestic product (GDP) will remain on a growth path into 2019, supported by its diversified economy and nature of exports, said Bank Negara Malaysia Governor Datuk Nor Shamsiah Yunus.

Despite a challenging external environment, she said, the domestic economy is likely to remain positive this year, spurred by robust private sector activity and moderate inflation.  

"Private sector activity will be the main driver for growth for the rest of 2018 and 2019.

"Favourable labour market conditions, namely the robust private sector which has a high employment growth and significant improvement in consumer sentiments, will underpin private consumption," she said at the “Malaysia: A New Dawn” Investors' Conference here on Tuesday.

Nor Shamsiah said Malaysia's policy stability and deep financial markets allowed the country to withstand external shocks and ensure growth.

The well-diversified economic structure, coupled with highly diversified export products and markets,  accorded Malaysia the resilience to face global and domestic headwinds, she added.  

On downside risks, she believes the ongoing trade tension which will disrupt global trade growth will affect Malaysia's economy, going forward, but noted that financial intermediation was still at a healthy level.

"We have the policy tools to ensure that liquidity in the financial system is adequate to support intermediation activities," said Nor Shamsiah, adding that the current monetary stance is appropriate, conducive and supportive to the growth. - Bernama

Start your ads-free experience now!

Monthly Plan


Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!


Next In Business News

Asia shares muted on China data, euro on defensive
L'Occitane chairman Geiger offers scrip alternative to take firm private
China stocks down on weaker-than-expected data, HK shares up
China new home prices fall at fastest clip in nearly 10 years
Asia shares muted on mixed China data, euro pressure
China cbank leaves key policy rate unchanged as expected
China's May industrial output misses forecasts, retail sales a bright spot
S.Korean shares retreat from 26-month high as e-commerce firms drag
Temasek to invest up to US$198 mln in Australian ETF manager Betashares
Crypto startup funding overcomes blow-ups to hit US$100bil

Others Also Read