MIER maintains 2013 GDP growth forecast

MIER maintains 2013 GDP growth forecast
Written by Esther Lee of theedgemalaysia.com
Thursday, 17 January 201315:13

KUALA LUMPUR (Jan 17): The Malaysian Institute of Economic Research (MIER) is maintaining its 2013 GDP growth forecast of 5.6%. Last October, the economic institution had forecast the 2013 GDP to expand at a rate of 5.4%, but later revised it to 5.6% in December.

“We are forecasting a GDP growth of 5.6% for 2013, driven by exports and domestic demand. Domestic demand has been playing a more important role in our GDP growth,” said MIER executive director Dr Zakariah Abdul Rashid at a media conference on Thursday.

MIER also predicts an inflation of 2.5% for this year compared with 1.7% in the previous year. “This is because we expect to see some inflow of capital into the country, putting pressure on prices. Commodity prices in 2013 will also add to the Consumer Price Index.

“I think this inflation rate at 2.5% will be able to help the economy grow without interruptions,” Zakariah added.

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