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Malaysia’s GDP growth for 2013 is expected to exceed 5% which, given the global situation, is a very satisfactory performance. However, there are mixed views about the coming year with several financial institutions predicting a slowdown as the global downturn continues to impact the country.
Key factors which would contribute to a slowdown are falling commodity prices and reduced government spending. In 2012, the growth in the economy was helped by the additional government spending which often precedes an election. Malaysia has already seen exports falling because of weak global demand and that is expected to continue throughout the coming year.
However, the highly respected Malaysian Institute for Economic Research expects growth to be stronger next year than this year, possibly reaching 5.6%.Notably, though, this prediction assumes that there is some pick-up in global economic growth.
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