Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Malaysia  News  >>   Economy  >>   Malaysian economy up 8.9 percent
NEWS UPDATES 19 August 2010

Malaysian economy up 8.9 percent

Related Stories

August 14, 2010
IMF asks Malaysia for action

June 12,2010
Indonesia monitors global economy

June 9, 2010
Indonesia: OECD pat for transparency in tax standards

June 1, 2010
Indonesia drafts regulation to thwart new crisis

May 2, 2010
Indonesia's foreign debts at $180.7bn in March

April 9, 2010
Indonesia, EU set up vision group to enhance economic ties

Malaysia's economy grew 8.9 percent year-on-year in the second quarter, with growth expected to exceed 6 percent in the full year, the central bank governor said.

Zeti Akhtar Aziz said the second-quarter growth was "driven by sustained expansion in domestic demand and continued robust growth in external demand."

She said the stronger domestic demand was due to higher private and public sector spending, while the expansion in external demand spurred domestic production.

"We are seeing a pick-up in investments, consumption is strong and our domestic economy remains strong and robust."

The central bank governor said Malaysia would also benefit from trade with other Asian economies, "who have shown a high degree of resilience and who are showing strong growth."

Despite the slow growth in advanced economies, she said Malaysia's economic growth was still "favourable" because the country had strong fundamentals, low inflation and low unemployment.

The inflation rate, as measured by the change in the consumer price index (CPI), increased by 1.9 percent for July compared with the same month last year, according to a statement from the Statistics Department.

"We can have a reasonable rate of (economic) growth in the second half," Zeti said, but did not give a figure.

The central bank also announced a further liberalisation of foreign exchange transactions.

Malaysia's economy leapt 10.1 percent year-on-year in the first quarter after a revised 4.4 percent growth rate in the last quarter of 2009. The first quarter figure was the highest rate recorded since the first quarter of 2000, when the economy grew 11.7 percent.

Earlier this year the government unveiled plans for economic reforms including an overhaul of racial preferences for majority Malays, part of a plan to achieve developed-nation status by 2020.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below
Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com