Malaysian economy up 6% 2nd quarter

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At this year’s 15th annual Malaysian Banking Summit, the 2nd Minister of Finance Datuk Seri Ahmad Husni Hanadzlah indicated that Malaysia is on track to post a 5.5% to 6% increase in Gross Domestic Product for the second quarter of 2011.  Numbers for the first quarer of 2011 and the last quarter of 2010 were less impressive than anticipated, as the country has set a goal of 7% growth per year to meet its 2020 Economic Transition Program goals.

While speaking to members of the financial services industry, Ahmad Husni said their sector should amount for up to 10% of overall GDP, especially as it modernizes and grows.  It contributed to about 6.1% last year. Strong capitalization, profitability, liquidity and asset quality are imperative for ensuring success in the banking industry.

 

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Reading Time: 1 minute

At this year’s 15th annual Malaysian Banking Summit, the 2nd Minister of Finance Datuk Seri Ahmad Husni Hanadzlah indicated that Malaysia is on track to post a 5.5% to 6% increase in Gross Domestic Product for the second quarter of 2011.  Numbers for the first quarer of 2011 and the last quarter of 2010 were less impressive than anticipated, as the country has set a goal of 7% growth per year to meet its 2020 Economic Transition Program goals.

Reading Time: 1 minute

At this year’s 15th annual Malaysian Banking Summit, the 2nd Minister of Finance Datuk Seri Ahmad Husni Hanadzlah indicated that Malaysia is on track to post a 5.5% to 6% increase in Gross Domestic Product for the second quarter of 2011.  Numbers for the first quarer of 2011 and the last quarter of 2010 were less impressive than anticipated, as the country has set a goal of 7% growth per year to meet its 2020 Economic Transition Program goals.

While speaking to members of the financial services industry, Ahmad Husni said their sector should amount for up to 10% of overall GDP, especially as it modernizes and grows.  It contributed to about 6.1% last year. Strong capitalization, profitability, liquidity and asset quality are imperative for ensuring success in the banking industry.

 

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