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M'sia economy to record strong growth in Q3
Published on: Wednesday, October 21, 2015

PUTRAJAYA: Malaysia's economy in the third quarter is expected to be strong based on the growth of the Industrial Production Index (IPP) and the trade data for August, said Minister in the Prime Minister's Department, Datuk Seri Abdul Wahid Omar.

He said despite the challenging domestic and foreign environment, the August trade recorded a surplus of RM10 billion and IPP rose by three per cent in August and 6.1 per cent in July.

"Based on this momentum, the country's economy will continue to grow but at what rate, it would be decided later," he said at the panel discussion at the World Statistics Day here Tuesday.

Abdul Wahid said the trade surplus would benefit from the currency movements where the weak ringgit has helped to make exports become more competitive and reduce imports.

He added that the country's current economic growth was driven by private investment and consumption.

"The government has been aware that it could not continue to drive investment and it's time for the private sector to do it.

"Last year, the private sector investment rose by 64 per cent and for the first half of this year, it rose to 71 per cent and it would be continued to be encouraged," he said. – Bernama

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