Malaysia Economic Monitor, June 2017 : Data for Development
Malaysia’s economic growth expanded strongly in first quarter (1Q) 2017. Gross domestic product (GDP) growth rate for 2017 is expected to accelerate to 4.9 percent, slightly above the government’s current projection range of 4.3 to 4.8 percent. The...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Kuala Lumpur
2017
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| Online Access: | http://documents.worldbank.org/curated/en/993771497248234713/Malaysia-economic-monitor-data-for-development http://hdl.handle.net/10986/27524 |
| Summary: | Malaysia’s economic growth expanded
strongly in first quarter (1Q) 2017. Gross domestic product
(GDP) growth rate for 2017 is expected to accelerate to 4.9
percent, slightly above the government’s current projection
range of 4.3 to 4.8 percent. The current account surplus has
declined (1Q 2017: 1.6 percent of GDP; 4Q 2016: 3.8 percent
of GDP) due to strong import growth. Gross imports growth,
mainly of capital and intermediate goods, outpaced the
significant increase in gross exports, resulting in a lower
goods surplus. The current account surplus is projected to
narrow further to 1.6 percent of GDP in 2017. Monetary
policy is expected to remain accommodative and supportive
for growth. The higher growth trajectory projected for 2017
opens up room to accelerate reduction in the fiscal deficit.
Risks to the economy in the short-term stem mainly from
external developments. Focus on implementing further
structural reforms to raise the level of potential growth
should continue. This include looking into measures to raise
the level of productivity, encourage innovation, invest in
new skills, leverage digital technologies, and continue
ongoing efforts to improve efficiency of public service delivery. |
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