ID :
74032
Thu, 08/06/2009 - 20:31
Auther :
Shortlink :
https://oananews.org//node/74032
The shortlink copeid
MALAYSIAN ECONOMY TO SEE ROBUST GROWTH IN 2010
KUALA LUMPUR, Aug 6 (Bernama) -- Malaysia's gross domestic product (GDP)
growth, which is expected to remain at negative two percent this year, will see
a robust recovery in 2010.
Deutsche Bank group chief economist, Prof Dr Norbert Walter, said the bank
expected Malaysia's growth to resume and go back to three percent next year.
However, he said, Malaysia was unlikely to achieve five percent growth as
investments were not strong.
He said Malaysia should focus on improving investment environment because
the sharp GDP contraction in the first quarter of this year was mainly due to
weak investment.
"Investments have been falling 10-11 percent year-on-year in the past two
quarters, which have dragged down the country's growth," he told a media
briefing here Thursday.
Walter said the driving force of Malaysia's GDP growth next year would
be the support from Asian countries, especially China and India.
"Asia is performing well. So you get the support for your own economy by
being so close to relatively strong economies like India, Indonesia and China,"
he said.
Walter, also Deutsche Bank Research managing director, expected Malaysia to
move up the value-added ladder to enjoy further recovery in line with developed
countries.
He said although neighbouring countries did not have good governance and
quality infrastructure, they were getting more attractive now and Malaysia would
lose out if it stood still.
Walter said Malaysia has gained a lot from the past Asian financial crises,
adding that he was not too worried about the direction of the country.
On the global economy, Walter said, growth was expected to decline by three
percent this year due to a never-before-seen decline in real and financial
activities.
However, he anticipated the global economy to recover in 2011 with 1.5
percent growth supported by the strength of Asian emerging markets.
He expected a modest recovery in the second half of this year.
Walter said Asia as a whole was in better economic shape than other emerging
economies.
-- BERNAMA
growth, which is expected to remain at negative two percent this year, will see
a robust recovery in 2010.
Deutsche Bank group chief economist, Prof Dr Norbert Walter, said the bank
expected Malaysia's growth to resume and go back to three percent next year.
However, he said, Malaysia was unlikely to achieve five percent growth as
investments were not strong.
He said Malaysia should focus on improving investment environment because
the sharp GDP contraction in the first quarter of this year was mainly due to
weak investment.
"Investments have been falling 10-11 percent year-on-year in the past two
quarters, which have dragged down the country's growth," he told a media
briefing here Thursday.
Walter said the driving force of Malaysia's GDP growth next year would
be the support from Asian countries, especially China and India.
"Asia is performing well. So you get the support for your own economy by
being so close to relatively strong economies like India, Indonesia and China,"
he said.
Walter, also Deutsche Bank Research managing director, expected Malaysia to
move up the value-added ladder to enjoy further recovery in line with developed
countries.
He said although neighbouring countries did not have good governance and
quality infrastructure, they were getting more attractive now and Malaysia would
lose out if it stood still.
Walter said Malaysia has gained a lot from the past Asian financial crises,
adding that he was not too worried about the direction of the country.
On the global economy, Walter said, growth was expected to decline by three
percent this year due to a never-before-seen decline in real and financial
activities.
However, he anticipated the global economy to recover in 2011 with 1.5
percent growth supported by the strength of Asian emerging markets.
He expected a modest recovery in the second half of this year.
Walter said Asia as a whole was in better economic shape than other emerging
economies.
-- BERNAMA
