HSBC expects 5.6% GDP growth for Malaysia this year

James Cheo, chief investment officer for South-East Asia at HSBC Global Private Banking and Wealth, said key drivers to the nation’s growth would be a higher consumption level, an influx of infrastructure spending that has been on hold for the last two years, and buoyant foreign direct investment.

PETALING JAYA: HSBC expects the economic recovery in Malaysia to be quite strong this year, with the gross domestic product (GDP) set to expand 5.6% despite the impact of the recent floods in the country.

James Cheo, chief investment officer for South-East Asia at HSBC Global Private Banking and Wealth, said key drivers to the nation’s growth would be a higher consumption level, an influx of infrastructure spending that has been on hold for the last two years, and buoyant foreign direct investment.