KUALA LUMPUR, Feb 18 — Former Bank Negara Malaysia (BNM) governor Tan Sri Zeti Akhtar Aziz has described Malaysia's 2018 gross domestic product (GDP) growth of 4.7 per cent as steady despite the challenging environment and expected the strong economic momentum to continue in 2019.
She noted that the growth of between four and six per cent in 2019 remained positive amid the current economic situation.
“For this year’s outlook, it should be as good if not better and this would be presented by all the investment houses, as well as the official one by the central bank and the Ministry of Finance,” she told reporters on the sidelines of the Nomura Islamic Asset Management 10th Anniversary Investment Forum here today.
BNM, last week, reported that the Malaysian economy, as measured by GDP, grew 4.7 per cent in the fourth quarter of 2018 from a year earlier, bringing full-year 2018 GDP growth to 4.7 per cent.
The central bank said private sector activity remained the main driver of growth, while a rebound in exports of goods and services contributed towards net export growth.
BNM is expected to announce the Malaysian economy 2019 outlook next month.
Zeti, who is Permodalan Nasional Bhd (PNB) chairman, said while economists and research houses projected lower GDP growth this year, PNB’s dividend would not be affected by a possible slowdown in the economy, driven by the fund’s diversified investment portfolio.
“Investment is all about diversification. If you learn to diversify, when one market does not perform, another does.
“The idea is to achieve a sustainable return and I have full confidence in PNB team that they will give their best effort to achieve such sustainable returns,” she said.
On the formation of the Economic Action Council (EAC), of which she is a member, Zeti described it as a great opportunity to get the economy going again.
Asked about top priorities to be discussed at the first EAC meeting, she said, “I want to save it when the meeting commences in the next few weeks. It will be very soon.”
On Feb 11, the Prime Minister’s Office announced the appointment of 16 members of the EAC which would be chaired by Prime Minister Tun Dr Mahathir Mohamad.
The members include Economic Affairs Minister Datuk Seri Azmin Ali, Finance Minister Lim Guan Eng, International Trade and Industry Minister Datuk Ignatius Darell Leiking, Works Minister Baru Bian, and Prime Minister’s Economic advisor Dr Muhammed Abdul Khalid.
The others are former International Trade and Industry Minister Tan Sri Rafidah Aziz, Zeti, Council of Eminent Persons member Prof Dr Jomo Kwame Sundaram, Public Bank managing director Tan Sri Tay Ah Lek, and Majlis Amanah Rakyat chairman Dr Hasnita Hashim. — Bernama
