Malaysia’s gross domestic product (GDP) growth for 2016 is projected at between four to 4.5 per cent with the half year performance at 4.1 per cent.
Prime Minister Najib Razak said the GDP decline when compared to 2015, was due to the soft global economic growth momentum.
“Malaysia’s exports declined. The weakness on the international market also caused prices for commodities as oil, gas, palm oil and minerals to fall.
“The global economic situation also exacerbated by geopolitical developments as Brexit in Europe,” he said in answering a question from Dr Tan Seng Giaw (DAP-Kepong) in the Dewan Rakyat here today.
Najib said in 2015, Malaysia posted GDP growth of 5.0 per cent when compared to countries as Indonesia (4.8 per cent), Thailand (2.8 per cent) and South Korea ( 2.6 per cent).