News & Articles Pemandu: Malaysian economy remains on track
Pemandu: Malaysian economy remains on track
21 Sep 2015
Despite negative sentiments, the government is confident of weathering global volatilities currently impacting the Malaysian economy, based on growth in gross domestic product (GDP) and private investment.
Key economic indicators continue to underline the country’s solid fundamentals. For first half 2015, GDP was at 5.3% and projected to grow between 4.5% and 5.5% for the full year, said Pemandu chief executive officer Datuk Seri Idris Jala today.
Realised private investment accelerated 2.5 times post Economic Transformation Program (ETP) with compound annual growth rate (CAGR) between 2011 and 2014 at 13.6% compared to 5.5% between 2006 and 2010, he added.
Private investment stood at RM108.5 billion, contributing to 71% of total investment in the first half of 2015, he said at the Economic Update 2015.
“Malaysia remains in the fiscal safe zone with fiscal deficit narrowing down to 3.4% of the GDP in 2014 compared to 6.4% in 2009, and the country’s debt to GDP ratio at 53.7% by the end of June 2015.”
Idris also said the government tax base has increased, providing greater fiscal resilience. The CAGR of government tax revenue is expected to clock in at 11.9% between 2011 and 2015, compared to 6.3% between 2006 and 2010. For 2015, total tax revenue is estimated RM183.4 billion."
Key economic indicators continue to underline the country’s solid fundamentals. For first half 2015, GDP was at 5.3% and projected to grow between 4.5% and 5.5% for the full year, said Pemandu chief executive officer Datuk Seri Idris Jala today.
Realised private investment accelerated 2.5 times post Economic Transformation Program (ETP) with compound annual growth rate (CAGR) between 2011 and 2014 at 13.6% compared to 5.5% between 2006 and 2010, he added.
Private investment stood at RM108.5 billion, contributing to 71% of total investment in the first half of 2015, he said at the Economic Update 2015.
“Malaysia remains in the fiscal safe zone with fiscal deficit narrowing down to 3.4% of the GDP in 2014 compared to 6.4% in 2009, and the country’s debt to GDP ratio at 53.7% by the end of June 2015.”
Idris also said the government tax base has increased, providing greater fiscal resilience. The CAGR of government tax revenue is expected to clock in at 11.9% between 2011 and 2015, compared to 6.3% between 2006 and 2010. For 2015, total tax revenue is estimated RM183.4 billion."
Source: Therakyatpost.com
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