KUALA LUMPUR: Socio-Economic Research Centre (SERC) said Malaysia’s overall economic growth projection will hit 5 per cent this year, in line with the improvement in export, private consumption, and private investment. SERC executive director Lee Heng Guie said the country’s gross domestic product (GDP) recorded a stronger traction of 5.6 per cent in the first-quarter 2017, lifted by sturdier domestic demand and higher exports. Lee added the growth is broad-based spurred by domestic demand particularly in private sector expenditure and strengthening external demand. He reckoned the macroeconomic fundamentals should also continue to support growth and government should reduce its spending on expenditure rationalisation like in public sector pension reform and rightsizing civil service. “Monetary policy must be well calibrated to support growth and anchor inflation expectations while mindful of global financial conditions.

Source: New Strait Times July 05, 2017 09:00 UTC