Malaysia on par with global economy

Malaysia's economy has expanded by 4.9% in the second quarter bringing its economy at an equal level with the world economy.

Malaysia on par with global economy

World Bulletin / News Desk

 Malaysia's economy expanded moderately by 4.9 per cent in the second quarter (Q2) of 2015 as compared with 5.6 per cent in the first quarter (Q1), driven mainly by private sector demand according to an article in Bernama.

Malaysia is on the same page with the global economy, which also saw a moderate pace expansion, Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz said.

"The global economy expanded at a moderate pace in the second quarter of 2015. Growth in most Asian economies moderated in the second quarter. Domestic demand continued to support growth in an environment of weak exports," she said.

The Malaysian economy is expected to remain on a steady growth path, with domestic demand continuing to be the key driver of growth, the Governor said at a press conference held to announce the Q2 growth here today.

"Private consumption is expected to continue to adjust to the introduction of the Goods and Services Tax (GST), although wage growth and stable labour market conditions would provide support to household spending," she said.

Meanwhile, public consumption recorded a higher growth of 6.8 per cent (1Q 2015: 4.1 per cent) following the stronger expansion in supplies and services expenditure amid a sustained growth in emoluments.

The agriculture sector turned around to record positive growth amid higher production of palm oil.

Güncelleme Tarihi: 13 Ağustos 2015, 12:19