The International Monetary Fund (IMF) has raised its growth projection for Malaysia this year to 6.7% from 4.7% before, and also expects the growth to be 5.3% in 2011, beating Malaysia’s own official forecasts. Malaysia posted a vibrant 10.1% growth in the first quarter from January to March, and the economic activity has been sustained by continued buoyancy in exports and strong private domestic demand. On its outlook for the second half of 2010, IMF said that a stall in the European recovery that spills over to global growth would affect Asia through both trade and financial channels. However, in the event of external demand shocks, the large domestic demand bases in some of the Asian economies that contribute substantially to the region’s growth, such as China, Indonesia and India, could provide a cushion to growth.
Malaysia Daily Bulletin – 12/07/10
No comments:
Post a Comment