close
close

Apre-salomemanzo

Breaking: Beyond Headlines!

    • Malaysia’s economy grows on sharp rise in investment and strong ringgit
    aecifo

    Malaysia’s economy grows on sharp rise in investment and strong ringgit

    Umito Posted on

    MalaysiaThe country’s economy expanded as expected in the third quarter, while remaining on track to meet official forecasts for a surge in investment and increased domestic spending.

    Gross domestic product grew 5.3 percent in the July-September quarter from a year earlier, matching the advance estimate and median forecast in a Bloomberg News survey of consumers. analysts. On a sequential basis, the economy grew 1.8 percent from the previous three months, according to Malaysia’s central bank and statistics department on Friday.

    Malaysia’s economy has largely recovered from last year, reinforcing officials’ optimism that the full-year figure could exceed the initial forecast of a 4 to 5 percent expansion .

    The Finance Ministry last month raised its annual growth projection from 4.8 to 5.3 percent, and expects further improvement next year as it seeks to raise the minimum wage and position the country as a neutral haven for global investors with Donald Trump assuming the presidency of the United States. and potentially leveling customs tariffs against China.
    Even if the result of American election If the situation is expected to lead to volatility in financial markets in the short term, Malaysia’s resilient economy will be able to withstand the pressure, BNM Governor Abdul Rasheed Ghaffour said during a briefing. press Friday.

    “What is important to note is that we enter this period from a position of strength,” he said. “Our growth is mainly driven by domestic demand and Malaysia has a very diverse economy and trading partners. »

    The ringgit recorded a gain of 0.2 percent from Friday at 12:30 p.m. in Kuala Lumpur.

    Umito
    View all posts

    You Might Also Like