AmBank Group chief economist Anthony Dass(pic), who is projecting a 4.5% GDP growth this year for Malaysia, said the economic growth hinges largely on domestic demand and private investment. To this end, he told StarBiz it is imperative for the government to arrest the alarming decline in private-sector investments which has slid from 6.9% in the third quarter of last year (3Q18) to 0.4% in 1Q19.
PETALING JAYA: Against a backdrop of recessionary risk looming in Asia, the declining private investment scene in Malaysia is stoking concerns and economists believe it needs urgent address.
While economists are maintaining their economic growth projections for the upcoming quarters, they agree that private investment needs to be seriously looked at to ensure the nation’s gross domestic product (GDP) growth is not derailed.
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