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Malaysia
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World Bank keeps Malaysia’s 2019 GDP outlook at 4.7pc

Lead economist for Malaysia, Richard Record said private consumption would continue to be the main driver of growth, albeit expanding at a more measured pace. — Reuters pic
Lead economist for Malaysia, Richard Record said private consumption would continue to be the main driver of growth, albeit expanding at a more measured pace. — Reuters pic

KUALA LUMPUR, April 24 — The World Bank Group has maintained Malaysia’s 2019 gross domestic product (GDP) growth at 4.7 per cent, driven by private consumption.

Lead economist for Malaysia, Richard Record said private consumption would continue to be the main driver of growth, albeit expanding at a more measured pace.

“Household spending will be buoyed by stable labour market conditions and income support measures such as the Cost of living Aid (Bantuan Sara Hidup),” he told reporters at the East Asia and Pacific Economic Update briefing here today. — Bernama

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