Malaysia’s domestic demand becomes major driver of growth

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.

Source: ITTO