Malaysia economy expands 5.8% in Q2

Kuala Lumpur

STEADY domestic demand and robust exports continued to propel the Malaysian economy in the second quarter to a stronger-than-expected expansion of 5.8 per cent, taking the first-half year growth to 5.7 per cent.

Although the economy is expected to grow at a slower pace in the second half, Bank Negara Malaysia expects full year GDP growth at above 4.8 per cent, driven by domestic and external demand, and the on-going implementation of infrastructure projects. "Going forward the Malaysian economy is expected to grow at above 4.8 per cent in 2017," the central bank said in a statement on Friday.