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No wonder Najib told Old Fart to fuck off!
<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR vAlign=top><TD></TD></TR><TR><TD vAlign=top width=452 colSpan=2>Published April 24, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>8% real GDP growth seen for M'sia in 2010
Exports and imports will grow 15% and 16%, says economist
By S JAYASANKARAN
IN KUALA LUMPUR
A PRIVATE economist has come out with the most bullish prediction yet for the Malaysian economy, saying that it could grow 8 per cent this year in real gross domestic product (GDP) terms. If he is right, it would be the country's strongest expansion since 1996.
Manokaran Mottain, an economist with the Arab-Malaysian Banking Group, said in a report yesterday that increased household spending and export growth would drive the country's economy to levels unseen for over a decade.
The upgraded forecast parallels more robust expectations for other Asian economies including China, India and Singapore.
Meanwhile, Mr Manokaran's revised forecast also mirrors upgrades by other institutions including Barclays Capital, the Malaysian Institute of Economic Research and JPMorgan.
If it pans out, the country's economic strength could bolster the political position of Prime Minister Najib Razak and could help him push through some unpopular, but necessary, economic reforms.
Arab-Malaysian Banking Group's research department upgraded Malaysia's economic growth to 8 per cent in 2010 from its previous estimate of 5 per cent. Mr Manokaran also said that 2011 would register GDP growth of at least 6 per cent.
Indeed, the economist said that first-quarter growth 'probably' came in at 8.9 per cent which would make it the fastest in a decade. The figure dovetails with expectations of stronger-than-expected first-quarter growth expressed recently by Deputy Prime Minister Muhyiddin Yassin.
'With prospects of a disappointing global upswing getting dimmer, real GDP will be sustained at around 6 per cent in 2011,' said Mr Manokaran.
The economist maintained that the ringgit would end the year at RM3.10 to the US dollar - which is also one of the most bullish views for the local currency.
He expects the manufacturing sector to be the main growth driver in 2010, with a 12.3 per cent jump. He said that the services sector would expand by 7.1 per cent due to stronger demand arising from the wealth effect from the financial markets, stable employment conditions and rising income levels.
The economist said that exports and imports would post double-digit growth of 15 per cent and 16 per cent respectively in 2010.
Meanwhile, a higher current account surplus of RM125 billion (S$53.8 billion) or 20 per cent of GDP could be expected for this year.
</TD></TR></TBODY></TABLE>
<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR vAlign=top><TD></TD></TR><TR><TD vAlign=top width=452 colSpan=2>Published April 24, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>8% real GDP growth seen for M'sia in 2010
Exports and imports will grow 15% and 16%, says economist
By S JAYASANKARAN
IN KUALA LUMPUR
A PRIVATE economist has come out with the most bullish prediction yet for the Malaysian economy, saying that it could grow 8 per cent this year in real gross domestic product (GDP) terms. If he is right, it would be the country's strongest expansion since 1996.
Manokaran Mottain, an economist with the Arab-Malaysian Banking Group, said in a report yesterday that increased household spending and export growth would drive the country's economy to levels unseen for over a decade.
The upgraded forecast parallels more robust expectations for other Asian economies including China, India and Singapore.
Meanwhile, Mr Manokaran's revised forecast also mirrors upgrades by other institutions including Barclays Capital, the Malaysian Institute of Economic Research and JPMorgan.
If it pans out, the country's economic strength could bolster the political position of Prime Minister Najib Razak and could help him push through some unpopular, but necessary, economic reforms.
Arab-Malaysian Banking Group's research department upgraded Malaysia's economic growth to 8 per cent in 2010 from its previous estimate of 5 per cent. Mr Manokaran also said that 2011 would register GDP growth of at least 6 per cent.
Indeed, the economist said that first-quarter growth 'probably' came in at 8.9 per cent which would make it the fastest in a decade. The figure dovetails with expectations of stronger-than-expected first-quarter growth expressed recently by Deputy Prime Minister Muhyiddin Yassin.
'With prospects of a disappointing global upswing getting dimmer, real GDP will be sustained at around 6 per cent in 2011,' said Mr Manokaran.
The economist maintained that the ringgit would end the year at RM3.10 to the US dollar - which is also one of the most bullish views for the local currency.
He expects the manufacturing sector to be the main growth driver in 2010, with a 12.3 per cent jump. He said that the services sector would expand by 7.1 per cent due to stronger demand arising from the wealth effect from the financial markets, stable employment conditions and rising income levels.
The economist said that exports and imports would post double-digit growth of 15 per cent and 16 per cent respectively in 2010.
Meanwhile, a higher current account surplus of RM125 billion (S$53.8 billion) or 20 per cent of GDP could be expected for this year.
</TD></TR></TBODY></TABLE>
