Following are the highlights of the 2016 Bank Negara Malaysia Annual Report:
- Malaysian economy projected to register a sustained growth of between 4.3 percent and 4.8 percent in 2017.
- Bank Negara Malaysia declares dividend payout of RM2.5 billion to the government in 2016.
- The current account is expected to register a surplus of between 1.0 and -2.0 per cent of Gross National Income in 2017.
- Inflation is projected to average higher in the range of 3.0 percent and 4.0 percent in 2017.
- Gross exports expected to increase by 5.5 percent in 2017 versus 1.1 percent in 2016.
- Gross imports anticipated to rise 6.4 percent compared with 1.9 percent last year.
- Malaysia's exports and imports poised to strengthen in 2017, underpinned by projected improvements in global growth, commodity prices and sustained domestic demand.
- Trade balance will remain in surplus in 2017.
- Ringgit depreciated by 4.3 percent to end at RM4.486 against the US dollar in 2016.
- Bank Negara Malaysia's total assets stood at RM451.0 billion, with international reserves amounting to RM423.9 billion (US$94.5 billion).
- International reserves remain ample to facilitate international transactions and sufficient to finance 8.5 months of retained imports and is 1.1 times the short-term external debt.
- Malaysia's external debt stood at RM908.7 billion, equivalent to US$200.6 billion or 73.9 percent of GDP, at end-2016 (2015: RM833.8 billion).
- The unemployment rate rose to 3.5 percent in 2016 from 3.1 percent a year ago, due to slower job creation amid more moderate economic growth.
- The services sector recorded a higher growth of 5.6 percent in 2016 from 5.1 percent in 2015, backed by expansion across all sub-sectors.
- Bernama