The gross domestic product of Malaysia will keep on increasing into 2019 with the help of the diversified economy and also the nature of exports as stated by Datuk Nor Shamsiah Yunus, the Bank Negara Malaysia governor. Irrespective of the challenges of the external environment, the domestic economy will remain positive this year as spurred by the activity of the private sector and also moderate inflation.
Private sector activity is going to be the primary driver for the growth for the rest of the months of 2018 and also 2019. The favorable conditions of the labor market, namely the strong private sector which has a high employment growth and also significant improvement in the sentiments of the consumer will surely underpin the private consumption.
Nor Shamsiah has stated that the policy of stability of Malaysia along with the deep financial market have allowed the country to bear the external shock and also ascertain the growth. The well-diversified economic structure is going to be coupled with the highly diversified export market and product accorded Malaysia, the resilience face domestic and global headwinds. However, the downside risk, she believes the ongoing tension regarduing trade that will disrupt global trade growth is going to have an effect on the economy of Malaysia.
Nor Shamsiah said that there are policy tools to make sure that the liquidity of the financial system is not proper to support the intermediate activities adding the present monetary stance is conducive, appropriate, and also supportive to the growth.