Executive Summary
Bank Negara Malaysia (BNM) expects the economy to grow by between 4.5-5.5% in 2010, slightly lower than the Prime Minister/Finance Minister’s aim of achieving a growth of 5-6% announced on 24 February. Based on the various demand component forecasts, the underlying real GDP forecast by the Central Bank for 2010 works out to be +4.65%. This is broadly in line with our projection of a growth of 4.5% and we see no reason to hange our forecast at this stage, as the global economic recovery remains uneven, given sustained high unemployment situation in the key developed countries, the gradual fizzling out of stimulus spending, debt problems in some of the European countries, and deflation in Japan.
Economic Update - The Bank Negara Malaysia 2009 Annual Report : Economic Recovery Gains Momentum, Normalisa...
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