Malaysia: 2019's Economy To Grow Even More Rapidly

PUTRAJAYA (Malaysia), Feb 14 (Bernama) -- The 4.7 per cent economic growth recorded in 2018 gives an assurance that the economy will grow even more rapidly this year, says Malaysia's Finance Minister Lim Guan Eng. While last year’s growth was 0.1 per cent lower than the targeted rate of 4.8 per cent, he said the economy’s performance was satisfactory in view of the challenging global economic environment, including the ongoing trade US-China trade tensions. “Other countries are also facing slower growth and on a global context, everyone was affected. “For Malaysia to reach a 4.7 per cent growth, it is a very good performance,” he told reporters after presenting a RM25 million cheque as additional allocations for two religious schools to Education Minister Dr Maszlee Malik here Thursday. Responding to a question if the economy would continue to grow in the first quarter of this year based on the 4.7 per cent growth achieved in the last quarter of 2018, Lim said it would be challenging and dependent on the global economic situation. In a statement earlier today, Department of statistics chief statistician Dr Mohd Uzir Mahidin said Malaysia’s economy grew 4.7 per cent in 2018 and registered a gross domestic product growth of RM1.23 trillion (US$1 = RM4.07) at constant prices and RM1.43 trillion at current prices. -- BERNAMA