IMF: Malaysia’s economy to grow 4.5 percent in 2017
Malaysia’ economy is forecasted to grow at 4.5 percent in 2017 due to strong private consumption, the International Monetary Fund (IMF) said on December 15.
Kuala Lumpur (VNA) – Malaysia’ economy is forecastedto grow at 4.5 percent in 2017 due to strong private consumption, theInternational Monetary Fund (IMF) said on December 15.
The IMF also appreciated policies on economic management of the Malaysiangovernment because the country has performed well despite “significantheadwinds” stemming from structurally weak growth at developed and emergingmarkets.
The Malaysian economy growth is expected to stand at 4.2 percent and the medium-termgrowth is seen at 4.5-5 percent.
However, the country might continue to suffer from weak commodity prices andslow private investment, according to the Washington-based organisation.
Additionally, the poor performance of Malaysian’s ringgit that has lost 7percent against the dollar the recent weeks has posed challenges to theSoutheast Asian country’s economy.
The Malaysia’s current monetary policy is appropriate in the context ofmoderate growth, low inflation and external uncertainties, said the IFM.-VNA
Malaysia’s economy has performed strongly at a time of regional and global economic uncertainty, showing the country is on the right track, said Malaysian Prime Minister Najib Razak.
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Illustrative photo (Photo: New Straits Times) 
