Malaysia’s GDP growth forecast reduced

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Malaysia-economyMalaysia’s expected GDP growth for 2013 has been reduced to 5 per cent from 5.4 per cent by Oversea-Chinese Banking Corporation, or OCBC, one of Singapore’s largest financial institutions.

The bank’s economist, Selena Ling, said global GDP growth is likely to average around 3.0-3.5 per cent this year, which is not much of an improvement compared to 2012, and will affect Malaysia’s economy.

“Malaysia’s growth prospects have come under pressure, with the first quarter performance missing market expectations,” she said in a statement on June 24 according to news agency Bernama.

In May 2013, economist have already downgraded their forecasts for Malaysia, with CIMB Investment Bank saying it has trimmed its growth expectation for the country’s GDP to 5.1 from 5.5 per cent.

Hong Leong Investment Bank has set the growth forecast at 4.5 per cent.

Rating agency Moody’s Investors Service said on June 24 in its annual credit analysis that Malaysia’s A3 sovereign rating – with a stable outlook – will remain as it was anchored by resilient growth and a strong external position. However, debt levels continue to rise as deficits remain relatively wide, Moody’s said.

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Reading Time: 1 minute

Malaysia’s expected GDP growth for 2013 has been reduced to 5 per cent from 5.4 per cent by Oversea-Chinese Banking Corporation, or OCBC, one of Singapore’s largest financial institutions.

Reading Time: 1 minute

Malaysia-economyMalaysia’s expected GDP growth for 2013 has been reduced to 5 per cent from 5.4 per cent by Oversea-Chinese Banking Corporation, or OCBC, one of Singapore’s largest financial institutions.

The bank’s economist, Selena Ling, said global GDP growth is likely to average around 3.0-3.5 per cent this year, which is not much of an improvement compared to 2012, and will affect Malaysia’s economy.

“Malaysia’s growth prospects have come under pressure, with the first quarter performance missing market expectations,” she said in a statement on June 24 according to news agency Bernama.

In May 2013, economist have already downgraded their forecasts for Malaysia, with CIMB Investment Bank saying it has trimmed its growth expectation for the country’s GDP to 5.1 from 5.5 per cent.

Hong Leong Investment Bank has set the growth forecast at 4.5 per cent.

Rating agency Moody’s Investors Service said on June 24 in its annual credit analysis that Malaysia’s A3 sovereign rating – with a stable outlook – will remain as it was anchored by resilient growth and a strong external position. However, debt levels continue to rise as deficits remain relatively wide, Moody’s said.

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