ECONOMIC REPORT The Malaysian economy is tipped for steady growth of between five and six percent next year, according to the Finance Ministry’s Economic Report 2014/2015.

This growth pace will be underpinned by resilient domestic demand and higher exports, says the report, following a stronger-than-expected showing so far this year.

For the current year, thus far, the nation’s economic growth clocked in 6.2 percent in the first quarter and 6.4 percent in the second quarter, bringing total growth for the six-month period to June to 6.3 percent.

The current growth rate, driven by strong export growth and robust private domestic demand, surpassed earlier expectations of a slowdown in growth.

An earlier Reuters poll of economists had forecast Malaysia’s economic growth to slow down to 5.8 percent in the second quarter of 2014.

Bank Negara Malaysia governor Zeti Akhtar Aziz said in August that the economy is expected to grow beyond the central bank’s earlier forecast range of 4.5 to 5.5 percent, although she thought growth in the second half of 2014 would likely moderate slightly.

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