Malaysia’s GDP growth forecast reduced

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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. 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply