Malaysia is expected to grow 4.7 percent in 2015, down 0.2 percent from an earlier estimate, according to the World Bank.
The decrease is due to outlook of weaker export growth and investments in the oil and gas industry as well as moderate private consumption.
Malaysia’s export growth will fall to 4.1 percent in 2015 from the current 5.4 percent. Private consumption will become moderate because of higher prices taking place when the country issues a tax on goods and services in April, 2015.
Meanwhile, the WB maintained the overall growth pace of Malaysia’s gross domestic product at 5.7 percent throughout 2014.
Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar, said despite estimates from the WB, his country will stick to the 2015 national gross domestic product target of 5 – 6 percent, noting that given the unstable global economy, the GDP might be lower than expected.
The WB has forecasted Malaysia’s current account surplus to GDP ratio would reduce to 3.1 percent in 2015 from this year figure of 4.2 percent.-VNA
The decrease is due to outlook of weaker export growth and investments in the oil and gas industry as well as moderate private consumption.
Malaysia’s export growth will fall to 4.1 percent in 2015 from the current 5.4 percent. Private consumption will become moderate because of higher prices taking place when the country issues a tax on goods and services in April, 2015.
Meanwhile, the WB maintained the overall growth pace of Malaysia’s gross domestic product at 5.7 percent throughout 2014.
Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar, said despite estimates from the WB, his country will stick to the 2015 national gross domestic product target of 5 – 6 percent, noting that given the unstable global economy, the GDP might be lower than expected.
The WB has forecasted Malaysia’s current account surplus to GDP ratio would reduce to 3.1 percent in 2015 from this year figure of 4.2 percent.-VNA
