Bloomberg
Published Jun 26, 2019 22:49
Updated Jun 27, 2019 01:36
Malaysia Raises 2019 Growth Expectations as Investments Rise
(Bloomberg) -- Malaysia expects its economy to expand close to 5% this year amid rising investments.
Finance Minister Lim Guan Eng called on representatives from other ministries as well as from banks and companies, who attended the 2020 state budget hearing, to support the country’s growth. The government estimated 4.9% economic expansion in this year’s budget, before the central bank lowered its forecast to 4.3% to 4.8% in March. Next year’s budget will be tabled on Oct. 11.
“Malaysia places a premium on economic growth and the consolidation is proceeding without sacrificing the well-being of the people,” Lim said on Tuesday. “The government would like to spend more, but at the end of the day, legacy issues like 1MDB are still something we need to deal with.”
Here are more comments from the finance minister:
Written By: Bloomberg
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