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Malaysia’s economy forecast to grow 5-5.5 percent in 2014

The Malaysian Institute of Economic Research (MIER) has forecast that Malaysia's growth will be between 5.0-5.5 percent in 2014.
The Malaysian Institute of Economic Research (MIER) has forecastthat Malaysia's growth will be between 5.0-5.5 percent in 2014.

Speaking on the sidelines of a November 26 conference on the country’seconomic outlook in 2014-2015, MIER Executive Director ZakariahAbdul Rashid said the European economy may recover next yearfollowing positive signals this year, creating more opportunities forMalaysia.

He said service and production will be key sectors leading the country’s growth in 2014.

In its Malaysian Economic Outlook 2014-2015, MIER said the country’sgrowth prospect depends on fiscal tightening measures in order tocontrol budget deficit and reduce recession risk.

In 2013, the Malaysian economy achieved the forecast growth of 4.8 percent.

Zakariah Abdul Rashid added that Malaysia could not pin hopeon demands from other markets as there are few good signals.-VNA
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