Malaysia’s economy grew by 4.7% in the first quarter, slower than the previous quarter but slightly ahead of projections. Not surprisingly, exports fell; down around 20% from a year ago. GDP growth was helped by domestic demand and government spending.
Some experts predict a further slowdown as the global outlook continues to look weak; however, the government is still confident the country can achieve a full year GDP growth of between 4.5 to 5.0%. It’s fair to say that the government’s Economic Transformation Programme has contributed to this solid performance.
