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Malaysia's RM1.45 trillion economy to grow 4.6pc this year: RAM

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Malaysia's RM1.45 trillion economy to grow 4.6pc this year: RAM Others

KUALA LUMPUR: RAM Ratings expects Malaysia’s RM1.45 trillion economy to grow at 4.6 per cent this year before slowing to 4.5 per cent in 2020.
In a statement today, the credit rating agency said further easing of monetary policy is on the cards, while fiscal policy remains mildly growth-supportive.
Against this backdrop, RAM said Malaysia will need to harness its inner strength from resilient domestic demand and accommodating policy measures to build a buffer against external challenges, which are likely to impinge on growth next year.
The agency shared its views on Malaysia’s Macroeconomic and Sectoral Outlook for 2020 at its Annual Credit Summit, held here recently.
Out of the 11 broad sectors under its coverage, RAM identified the automotive and commercial property to remain negative while the others which include power, telecommunications, toll roads and banking, are stable in outlook.
It elaborated that the automotive segment was weighed down by fierce competition in an increasingly more saturated market while the commercial property segment had been plagued by a glut of retail and office space.
“The banking sector, a bellwether for the Malaysian economy, is envisaged to shift to a lower gear on account of slower growth.
“Even so, the incumbents are still well-capitalised while their asset quality remains intact despite some potential slippage,” it added.
Other key themes discussed during the session centered on risks for Malaysia arising from the ongoing US-China trade war and the global slowdown, along with how 2020 Budget would support growth.

£®Source: News straits times£©

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