Belgian foreign minister Wilmes in intensive care with COVID    Senegal's Mendy almost quit football during year with no club    EgyptAir, Ghana sign MoU to establish national Ghanaian airline    UAE gets Israeli visa exemptions, a first for Arab world    BREAKING: Egypt's central bank dismisses CIB head Hisham Ezz El-Arab over 'serious violations'    Heavy rain, lightning and thunder hit parts of Egypt Thursday    BREAKING: CAF postpone Zamalek-Raja semi-final return leg, keep date for final unchanged    Egypt call up five foreign-based players, including Arsenal's Eneny, for Togo games    Egyptian authorities foil attempt to smuggle three artefacts from Alexandria port    New fighting in Nagorno-Karabakh dims hopes before Washington talks    Egypt reports 178 new coronavirus cases, 13 fatalities on Wednesday    In Photos: Visitors observe biannual sun alignment at Ramses II Temple in Abu Simbel    Lebanon begins consultations to pick new prime minister    'EU wants successful outcomes' of GERD negotiations: European ambassador to Egypt    Release of trailer for film Mafkoud: On the fate of those who went missing during the Lebanese civil war    Candidates poised for election marathon    Surviving the economic damage    Egypt's Sisi attends graduation ceremony of armed forces cadets at the Military Academy    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

IMF says Malaysia has stable economic outlook
Published in Bikya Masr on 12 - 12 - 2012

KUALA LUMPUR: Malaysia's economic outlook should remain stable next year with the support of domestic consumption and investments, which will continue to be resilient, said an International Monetary Fund (IMF) representative.
IMF deputy division chief of Asia and Pacific department, Dr Rodrigo Cubero, said that Malaysia's gross domestic product (GDP) next year should be strong.
“We see strength in domestic demand and investments, and expect them to remain robust in Malaysia entering 2013," he told reporters after delivering a public lecture on “The Global and Asia and Pacific Economies: Outlook and Risks" in Kuala Lumpur on Tuesday.
The government has underlined that Malaysia is expected to achieve full-year GDP growth of five percent or more in line with the positive economic performance in the first three quarters of 2012.
The growth in domestic demand has been supported by private investments, while the soft global economy has led to a slowdown in external demand.
He said China, Malaysia's biggest trading partner, was expected to see a high growth rate of between 8.2 percent and 8.8 percent next year after a slowdown in the first half of this year which later stabilised in the second half.
“Economic growth in the Asian region is projected to pick up modestly next year, but risks are tilted to the downside for the region which may include a hard landing in China, sustained drop in growth for other regional economies and a sharp increase in commodity prices," Cubero added.
Exports from Asian economies had slowed since mid-2011, mainly due to a sharp fall in external demand primarily from the eurozone. However, the overall domestic demand in the region has been resilient, including in Asean countries.
He said that commodity prices were expected to remain stable next year but noted that shocks in food or oil prices were potential risks that would lead to higher inflation.
“A pick up in commodity prices is a risk for inflation, especially since food is one of the most important components in consumption.
“However, Malaysia may benefit from shocks in oil prices since the country is an oil exporting country," Cubero added.
On the global economic outlook for next year, he expects a moderate recovery but did not rule out the uncertain outlook led by an escalation in the eurozone crisis and the “fiscal cliff' in the United States.
“The numbers for the global economy gathered and published in October were bullish, and we anticipate a better outlook in the next update in January," he said, estimating the world's GDP growth to be between 3.6 percent to 4.1 percent next year.

Clic here to read the story from its source.