ID :
34839
Wed, 12/10/2008 - 11:41
Auther :
Shortlink :
https://oananews.org//node/34839
The shortlink copeid
MALAYSIA'S GDP GROWTH FORECAST AT 4 PERCENT IN 2009 WITH ROBUST
KUALA LUMPUR, Dec 10 (Bernama) -- Malaysia's gross domestic product
(GDP)growth is forecast at four percent in 2009, according to a study by
economists of Allianz Dresdner Economic Research.
The chief executive officer of Allianz Malaysia Berhad, Alexander
Ankel said
that hence, the macroeconomic development of the country also appears to be
relatively robust.
"Allianz in Malaysia is also on track to grow profitably this year and in
2009.
"We have delivered strong results for the first nine months of 2008 and are
on the way to achieving our full-year targets," Ankel said.
In the Asia Pacific, Allianz is present in 15 markets offering its core
businesses of property and casualty insurance, life and health insurance, asset
management and banking.
Despite the financial crisis and the economic slowdown across the globe,the
Allianz Dresdner Economic Research study predicts that the emerging economies of
Asia will continue on a path of growth in 2009.
The GDP of emerging markets in Asia is forecasted to grow by 5.9 percent in
2009, after posting 7.2 percent in 2008.
"No region is immune to the financial crisis. Asian economies will
also see a slowdown in growth, but not a contraction. Emerging markets in Asia
will still show a considerable degree of resilience," said Michael Heise, the
chief economist of Allianz Dresdner Economic Research.
The study noted that Asia's export growth will be hit considerably by the
decline in consumer spending in the United States and Europe.
However, strong domestic demand led by consumer spending will support
economic growth,when compared with the rest of the world.
In addition, infrastructure investments like China's recently
announced fiscal spending program, will help offset lower foreign
demand.
The Allianz Dresdner Economic Research study also expects the growth of
real
GDP to slow markedly in the first two quarters of 2009, but to re-accelerate in
the second half of the year.
"It should reach 7.5 percent in China and 6.5 percent in India for the
whole year.Emerging Asia will shore up worldwide trade and growth in 2009,"
Heise added.
Japan's GDP is expected to stagnate.
Heise sees Asia's financial system as relatively resistant to the financial
crisis and Asian banks generally in a better financial position than most of
their foreign competitors.
-- BERNAMA
(GDP)growth is forecast at four percent in 2009, according to a study by
economists of Allianz Dresdner Economic Research.
The chief executive officer of Allianz Malaysia Berhad, Alexander
Ankel said
that hence, the macroeconomic development of the country also appears to be
relatively robust.
"Allianz in Malaysia is also on track to grow profitably this year and in
2009.
"We have delivered strong results for the first nine months of 2008 and are
on the way to achieving our full-year targets," Ankel said.
In the Asia Pacific, Allianz is present in 15 markets offering its core
businesses of property and casualty insurance, life and health insurance, asset
management and banking.
Despite the financial crisis and the economic slowdown across the globe,the
Allianz Dresdner Economic Research study predicts that the emerging economies of
Asia will continue on a path of growth in 2009.
The GDP of emerging markets in Asia is forecasted to grow by 5.9 percent in
2009, after posting 7.2 percent in 2008.
"No region is immune to the financial crisis. Asian economies will
also see a slowdown in growth, but not a contraction. Emerging markets in Asia
will still show a considerable degree of resilience," said Michael Heise, the
chief economist of Allianz Dresdner Economic Research.
The study noted that Asia's export growth will be hit considerably by the
decline in consumer spending in the United States and Europe.
However, strong domestic demand led by consumer spending will support
economic growth,when compared with the rest of the world.
In addition, infrastructure investments like China's recently
announced fiscal spending program, will help offset lower foreign
demand.
The Allianz Dresdner Economic Research study also expects the growth of
real
GDP to slow markedly in the first two quarters of 2009, but to re-accelerate in
the second half of the year.
"It should reach 7.5 percent in China and 6.5 percent in India for the
whole year.Emerging Asia will shore up worldwide trade and growth in 2009,"
Heise added.
Japan's GDP is expected to stagnate.
Heise sees Asia's financial system as relatively resistant to the financial
crisis and Asian banks generally in a better financial position than most of
their foreign competitors.
-- BERNAMA
