23 Mar '11, 12pm

Malaysia's economy expected to grow by 5%-6% this year

KUALA LUMPUR : Malaysia's economy will expand by between five and six percent in 2011, spurred largely by strong domestic demand, the central bank forecast on Wednesday. The figure, however, represented slower growth after an impressive 7.2 percent expansion in 2010. The export-dependent economy suffered a 1.7 percent contraction in 2009 due to the global slowdown. "The Malaysian economy is projected to grow by 5 to 6 percent in 2011," said Zeti Akhtar Aziz, the governor of the central bank, in its annual report. "The growth momentum will be underpinned by strong domestic demand, emanating primarily from private sector activity," she added. Zeti said inflation in Southeast Asia's third-largest economy could increase further in 2011 to average between 2.5 and 3.5 percent, driven primarily by rising global commodity and energy prices. Inflation in 2010 stood at 1.7 percent. ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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