Malaysia’s economy forecast to expand 4.7% – 4.8%

28 Mar 2019

growthDeputy International Trade and Industry Minister Dr Ong Kian Ming revealed that if conditions were to improve, Malaysia’s economy would likely grow between 4.7% and 4.8% in 2019.

He credited the manufacturing sector for driving the country’s exports and economic growth.

When speaking to reporters after officiating JAC Motors’ brand relaunch, Ong said: "I believe more domestic companies would be more willing to invest during the second half of this year, given the clear government policies in place.

"In Bank Negara Malaysia's report released yesterday, we can see that the investment climate is still very good here, with approved investments improving, especially in the manufacturing sector.”

He also went on to say that in the 2019 budget, the government forecast a 4.9% GDP for this year, although global events such as the US-China trade war and Brexit had impacted the percentage.

“If things get better, we will be able to see better than expected growth. If not this year then we hope (it will happen) next year,” Ong added.