Malaysia’s economy grew by 4.5 percent in the first quarter of 2019. (Photo: nst.com.my)
Kuala Lumpur (VNA) - Malaysia’s economy grew by 4.5 percent in thefirst quarter of 2019.
According to Bank Negara Malaysia (BNM), the supply side, major sectorscontinued to expand, with the exception of mining, due to the decline in oiland natural gas production arising from unplanned closure of productionfacilities.
On a quarter-on-quarter seasonally-adjusted basis, the central bank said theeconomy grew by 1.1 percent.
BNM said the Malaysian economy is expected to remain on a steady growth path,with private sector demand anticipated to remain the anchor of growth, amidlower public sector spending.
Overall, the central bank said the baseline projection is for the Malaysianeconomy to grow between 4.3 and 4.8 percent for the year.
In late March, the central bank downgraded its forecastfor the country’s economic growth this year to 4.3-4.8 percent, from earlierprojection of 4.9 percent.-VNA
The Malaysian central bank on March 27 downgraded its forecast for the country’s economic growth this year to 4.3-4.8 percent, from earlier projection of 4.9 percent.
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