KUALA LUMPUR (Dec 14): The World Bank upgraded its Malaysia 2017 gross domestic product (GDP) growth forecast to 5.8% from 5.2% after taking into account the nation's accelerated economic growth so far this year. In a statement today, World Bank said Malaysia's accelerated growth has been fueled by strengthening domestic demand and improved labour market conditions. World Bank said wage growth and improved external demand for the country's manufactured products and commodity exports also supported GDP growth. "Capital expenditure has also increased due to higher private and public investment," World Bank said. At the launch today, Zachau told reporters that World Bank expects Malaysia to continue reporting robust economic growth at above 5% in 2018 and 2019.

Source: The Edge Markets December 14, 2017 03:56 UTC