Malaysia's Economic Growth Rate Projected To Increase

KOTA BHARU (Kelantan, Malaysia), May 24 (Bernama) -- The nation’s economic growth is projected to continue at an encouraging rate of more than five per cent, due to the growth in various major sectors, including agriculture, manufacturing, service and construction. The Ministry of Finance Strategic Communications Director Lokman Noor Adam said during the fourth quarter of 2016, economic growth increased to 4.5 per cent compared with 4.2 per cent recorded during the first quarter of last year. “Although we projected economic growth of between 4.3 per cent and 4.8 per cent for 2017, there is a drastic leap and we achieved 5.6 per cent growth in the first quarter of this year. “I believe Malaysia will be able to maintain a growth rate of more than five per cent this year and this is a major achievement for Malaysia in the face of the current economic slowdown,” he told Bernama at the “Understanding the National Economic Policy” tour programme held here Tuesday. Lokman said foreign investors' confidence in Malaysia had also strengthened as a result of Prime Minister Najib Razak’s efforts to establish trade relations with several countries, such as Germany, France, India and Saudi Arabia, including China, which had pledged to invest US$150 million (US$1=RM4.30) within the next five years. -- BERNAMA