KUALA LUMPUR: The Malaysian Institute of Economic Research (Mier) has forecast a gross domestic product (GDP) growth of 4.5% for Malaysia this year against an estimated growth of 4.2% projected for 2016. “If the trade balance momentum continues, there is some hope that Malaysia will perform better in 2017,” said Zakariah when unveiling Malaysia’s Economic Outlook Fourth Quarter 2016 Update. He said the GDP growth forecast for 2017 was revised downwards to 4.5% from its previous forecast of between 4.5% and 5.5%. “The world is now surrounded by uncertainties such as these and we are unsure of how to move forward, especially when the protectionism sentiment in developed countries are gaining momentum,” Zakariah said. Zakariah said for 2017, domestic demand would continue to be the driver of growth but at a slower pace of 4.6% (initial forecast: 5%).

Source: The Star January 19, 2017 23:21 UTC