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Malaysian economy to grow beyond 5% this year

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Kuala Lumpur
– The Malaysian economy is expected to achieve a Gross Domestic Product (GDP) target of above five per cent this year if economic data continue to show signs of further growth, said FXTM Global Head of Currency Strategy and Market Research Jameel Ahmad.

He said investors have been provided with another reminder of the robust nature of the Malaysian economy following news that exports in March rebounded beyond expectations at just over two per cent.

“Exports were forecast to grow at around 1.7 per cent and, although, the growth figures of 2018 might appear on the headlines to be showing slower economic momentum than the previous year, it needs to be remembered that the Malaysian economy in 2017 generally outperformed all expectations,” he added.

He also noted that it would be slightly unfair to compare the headline 2018 trade figures with the previous year, where it was a common theme for exports to be announced at above double-digit growth.

In addition, he highlighted that trade talks between China and the United States would be of heavy importance to the global economy and something that Malaysia, like all other economies, would need to monitor as a breakdown in relations between two of the largest economies in the would carry negative risks to global trade. – Bernama