Malaysia's economy expands at steady pace
Published on: Friday, May 22, 2015
Kuala Lumpur: Malaysia's economy expanded at a steady pace during the Tenth Malaysia Plan (10MP) between 2011-2015 despite mixed performance globally. The real Gross Domestic Product (GDP) is expected to expand 5.3 per cent per annum with nominal per capita Gross National Income (GNI) to increase 5.8 per cent from RM27,819 (US$8,636) in 2010 to RM36,937 (US$10,196) by 2015, said the Economic Planning Unit (EPU) of the Prime Minister's Department in the Eleventh Malaysia Plan (11MP). According to the EPU, between 2009 and 2014, the average monthly household income expanded faster at 8.8 per cent per annum.
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"The growth was driven by strong domestic demand, particularly from increased private investments and a diversified economic base which softened the impact of a challenging external environment," it said. The EPU also said due to the steady expansion of the economy, the people enjoyed improvements in income distribution and low unemployment at 2.9 per cent. Stay up-to-date by following Daily Express’s Telegram channel.
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