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Wednesday, August 17, 2011

Bloomberg: Forecast of Malaysia 2Q GDP of 3.6% (Jupiter)

Minister in the Prime Minister’s department Tan Sri Nor Mohamed Yakcop said a Bloomberg forecast of second quarter GDP of 3.6% was “on the low side”. He also said the first half of the year’s GDP would appear lower due to the “base effect” in comparison to the same period last year. This comes after a poll of 16 economists by Bloomberg estimated Malaysia’s second quarter GDP growth rate at 3.6%, lower than first quarter growth of 4.6%. He said Malaysia will do very well in the second half, partially due to the base effect and also due to government projects such as the ETP and privatisation “taking off in a big way”. The government is still expected to hit the GDP target of 5-6% for 2011. (The Edge Daily)

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