Wednesday, December 16, 2009

ADB : Malaysia’s GDP to grow 4.5% in 2010

This looks like in tandem with our deputy Prime Minister’s announcement, as Asian Development Bank (ADB) announced that it expects Malaysia’s economy to return to growth in 2010.

According to a report by The Star Newsapper, the international development finance institution has forecast Malaysia’s gross domestic product (GDP) to grow by 4.5% next year.

It said Malaysia was expected to contract 2.5% in 2009 after registering minus 5.1% in the first half of the year and minus 1.2% in the third quarter.

The newspaper also noted that in a separate Asian Economic Monitor report for December 2009, the Manila-based institution said all the Asean-4 economies were pummeled by the precipitous drop in external demand but in terms of overall economic impact, Thailand and Malaysia were hurt the most.