Business

World Bank revises up Malaysia's 2017 GDP to 5.2%

KUALA LUMPUR:– The World Bank has revised up Malaysia’s gross domestic product (GDP) growth forecast for this year to 5.2% from 4.9% in June, on the back of a much stronger-than-expected growth of 5.7% in the first half of 2017.

The World Bank had previously forecast Malaysia’s economy to grow by 4.3%

World Bank Malaysia country manager Faris Hadad-Zervos said the Bank expected Malaysia to continue its growth trajectory route on high level growth.

“Upward estimates reflect Malaysia as an open economy, so the favourable external environment has helped fuel Malaysia’s continued growth.

“Also policies within the country have helped spur domestic demand and public investments.

“These are all very positive things,” Faris said at a press conference to unveil the World Bank’s October 2017 edition of the East Asia and Pacific Economic Update in Kuala Lumpur on Wednesday. – Bernama