The Ministry of Finance Malaysia has recently released its ‘Economic Report on Malaysia. The report indicated that the Malaysian economy is expected to grow 4-5% in 2017.
According to the report, inflation will be benign in 2017 and employment will remain well, particularly, in the services and manufacturing sectors which are expected to expand in 2017.
Non-oil related revenue will also contribute more 85% to total revenues as the new goods and services tax collection stabilises. The domestic demand in Malaysia is a driver of growth with local consumption increasing nearly 5% this year.