KUALA LUMPUR, March 8 (Bernama) -- The International Monetary Fund (IMF) has commended Malaysia for its strong and resilient economic performance, underpinned by accommodative monetary policy and gradual fiscal consolidation.
In recent years, the economy has shown resilience and continued to perform well despite external shocks, while fiscal consolidation proceeded. Progress was made towards achieving high-income status and improving inclusion, it said.
After surprising on the upside in 2017, real Gross Domestic Product (GDP) growth is projected to remain above potential at 5.3 per cent in 2018. In 2017, the economy expanded 5.9 per cent.
Growth will likely remain above potential in 2018, inflationary pressures appear to be contained and risks to the outlook are balanced, it said in a statement titled,
IMF Executive Board Concludes 2018 Article IV Consultation with Malaysia", released in Washington on Wednesday.
Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.....