The Malaysian economy in 2018 is estimated to grow between 5% and 5.5% from 2017, according to the Finance Ministry’s real gross domestic product (GDP) estimates for the country.<\/p>\n
The ministry said in its Economic Report 2017\/2018 that domestic demand is expected to grow 5.5%, driven mainly by private sector expenditure and by resilient domestic demand amid a favourable external sector.<\/p>\n
“The Malaysian economy will remain on its growth trajectory in 2018 propelled by domestic demand and supported by the external sector,” the finance ministry report said.\u00a0<\/p>\n
“In addition to positioning Malaysia as the destination of choice for foreign investment, the 2018 Budget will focus on domestic investment to stimulate growth.”<\/p>\n
The economy grew 5.8% in the second quarter of this year, its fastest pace in more than two years, aided by exports. Shipments of electric and electronic products account for about one-third of third largest Southeast Asian economy’s gross exports.<\/p>\n
“Private sector expenditure is projected to remain vibrant, expanding by 7.3%,” the Ministry announced this morning, ahead of the Budget 2018 speech.<\/p>\n
The Ministry said private sector expenditure is forecasted to contribute 72.9% to GDP, helped by private investment and consumption growth at 8.9% and 6.8% respectively.<\/p>\n
Government spending is, however, expected to drop. It said public sector expenditure is expected to decline 0.4% as public investment is projected to contract 3.1% on public corporations’ lower capital outlays.<\/p>\n
Export growth is expected to moderate after to 3.4% in 2018 from an estimated 16.6% increase in 2017. The pace of annual growth in import will also likely moderate to 3.5% in 2018 from this year’s estimated 17.8% increase<\/p>\n
On the supply side, the Ministry said it expects all major sectors of the economy to register growth. The list comprises the services, manufacturing, agriculture, mining and construction sectors.<\/p>\n
“The services sector is projected to grow 5.8%, increasing its share to 54.8% of GDP,” the Ministry said.<\/p>\n
The Ministry said its 2017 GDP growth forecast for the country is between 5.2% and 5.7%.<\/p>\n
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The Malaysian economy in 2018 is estimated to grow between 5% and 5.5% from 2017, according to the Finance Ministry’s real gross domestic product (GDP) estimates for the country. The ministry said in its Economic Report 2017\/2018 that domestic demand is expected to grow 5.5%, driven mainly by private sector expenditure and by resilient domestic […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1216","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=1216"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1216\/revisions"}],"predecessor-version":[{"id":5124,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1216\/revisions\/5124"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=1216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=1216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=1216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}