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NewsUpdate Malaysia on track for 4.5-5.0 pct GDP growth this year: Zeti
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Update Malaysia on track for 4.5-5.0 pct GDP growth this year: Zeti
by Cals Thu 12 Dec 2013, 16:47
Update Malaysia on track for 4.5-5.0 pct GDP growth this year: Zeti
Business & Markets 2013
Written by Bernama
Thursday, 12 December 2013 15:25
KUALA LUMPUR (Dec 12): Malaysia is on track to achieving a gross domestic product (GDP) growth of between 4.5 to 5.0 per cent this year and 5.0 to 5.5 per cent in 2014 on improved external factors, said Bank Negara Malaysia Governor, Tan Sri Dr Zeti Akhtar Aziz.
"Based on all the indicators we have seen, this will be achieved.
"Going forward in 2014, if the trend of the external factors continues to improve, as it has during the second half of this year, we expect the growth to (further) improve," she told reporters on the sidelines of the BERSAMA Art Exhibition launching at Sasana Kijang here today.
Zeti said domestic demand, which continued to register positive growth, had been growing in the region of 7-8 per cent.
Meanwhile, among the exhibition highlights were a painting of three young ladies by renowned Indonesian painter, Basoeki Abdullah.
Titled, "Keluarga Cantik/Tiga Dara", one of the ladies was Malaysia's renowned Malay culture expert and Zeti's mother, the late Sharifah Azah Mohamed Alsagoff.
On the possible review of the base lending and the overnight policy rates, Zeti said it would depend on the growth outlook, inflation prospects and growth risks.
"This will be reviewed from time to time. We have to look at what the risks to our growth are, and those risks of higher inflation resulting from an increase in demand pressure.
"This assessment will be made throughout the year," she said.
Meanwhile, responding to a report by Global Financial Integrity, on Malaysia being the fourth largest illicit capital exporter of RM174 billion in 2011, Zeti said the numbers given were overstated.
She noted that the situation had improved in terms of numbers, and would continue to show further improvement, given the central bank's stricter surveillance.
Zeti said one of the channels through which such outflows took place was money changers, and to address this, the Money Services Business Act was established.
"We have re-licensed money changers. So, there is now stricter surveillance and a legal framework to deal with this," she added.
Business & Markets 2013
Written by Bernama
Thursday, 12 December 2013 15:25
KUALA LUMPUR (Dec 12): Malaysia is on track to achieving a gross domestic product (GDP) growth of between 4.5 to 5.0 per cent this year and 5.0 to 5.5 per cent in 2014 on improved external factors, said Bank Negara Malaysia Governor, Tan Sri Dr Zeti Akhtar Aziz.
"Based on all the indicators we have seen, this will be achieved.
"Going forward in 2014, if the trend of the external factors continues to improve, as it has during the second half of this year, we expect the growth to (further) improve," she told reporters on the sidelines of the BERSAMA Art Exhibition launching at Sasana Kijang here today.
Zeti said domestic demand, which continued to register positive growth, had been growing in the region of 7-8 per cent.
Meanwhile, among the exhibition highlights were a painting of three young ladies by renowned Indonesian painter, Basoeki Abdullah.
Titled, "Keluarga Cantik/Tiga Dara", one of the ladies was Malaysia's renowned Malay culture expert and Zeti's mother, the late Sharifah Azah Mohamed Alsagoff.
On the possible review of the base lending and the overnight policy rates, Zeti said it would depend on the growth outlook, inflation prospects and growth risks.
"This will be reviewed from time to time. We have to look at what the risks to our growth are, and those risks of higher inflation resulting from an increase in demand pressure.
"This assessment will be made throughout the year," she said.
Meanwhile, responding to a report by Global Financial Integrity, on Malaysia being the fourth largest illicit capital exporter of RM174 billion in 2011, Zeti said the numbers given were overstated.
She noted that the situation had improved in terms of numbers, and would continue to show further improvement, given the central bank's stricter surveillance.
Zeti said one of the channels through which such outflows took place was money changers, and to address this, the Money Services Business Act was established.
"We have re-licensed money changers. So, there is now stricter surveillance and a legal framework to deal with this," she added.
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