- Higher economic growth of 4.7%, higher than consensus forecasts of 4.5%
- Continued expansion across most sectors, with the exception of commodity-related sectors
- Services and manufacturing sectors remained the key drivers of growth
- Malaysia's macroeconomic fundamentals continue to remain strong despite domestic and external headwinds.
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- Headline inflation declined in the fourth quarter of 2018 as transport inflation turned negative reflecting the fixed domestic RON95 petrol and diesel prices
- The combined outcome of the changes in consumption tax policy continued to exert an overall downward impact to headline inflation
- Malaysia’s external debt stood lower at RM924.9 billion, or 64.7% of GDP as at end December 2018 (end-September 2018: RM933.3 billion or 65.3% of GDP).
- The country’s external debt remains manageable, given its currency and maturity profiles, and the presence of large external assets.
- Close to one-third of external debt is denominated in ringgit (31.1%; end-September: 31.3%)
How about this year 2019?
According to BNM, the Malaysian economy is likely to remain on a steady growth path given below factors:
- Global growth reverting to the long-term trajectory
- Resilience of private consumption and continuation of civil engineering projects
- Recovery from supply side shocks
- Commencement of new production facilities (RAPID, E&E, retail outlet expansion)
- Materialisation of approved manufacturing investment
Source: Bank Negara Malaysia
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