Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz said, the Malaysian economic conditions are expected to improve in the second half of this year supported by fiscal stimulus measures and enhancing access to financing.
Malaysia is expected to see a significant improvement in the third quarter this year and a higher degree of positive growth in the fourth quarter that would continue into next year.
She said, first quarter gross domestic product this year contracted by 6.2 % from a growth of 0.1% in the fourth quarter last year but the prognosis for improved economic conditions look brighter in the second half of the year.
Tan Sri Dr Zeti Akhtar Aziz attributed the contraction to the significant deterioration in external demand following the deepening recession in advanced economies.
"Export demand continues to be weak and the environment is still challenging. Despite early signs of improvement, Q2 will be similar to Q1," she said.
The economy was expected to continue to contract in the second quarter, she said.
"However, economic conditions are expected to improve in the second half of this year supported by fiscal stimulus measures and enhancing access to financing," said Dr Zeti.
Malaysia is expected to see a significant improvement in the third quarter this year and a higher degree of positive growth in the fourth quarter that would continue into next year.
She said, first quarter gross domestic product this year contracted by 6.2 % from a growth of 0.1% in the fourth quarter last year but the prognosis for improved economic conditions look brighter in the second half of the year.
Tan Sri Dr Zeti Akhtar Aziz attributed the contraction to the significant deterioration in external demand following the deepening recession in advanced economies.
"Export demand continues to be weak and the environment is still challenging. Despite early signs of improvement, Q2 will be similar to Q1," she said.
The economy was expected to continue to contract in the second quarter, she said.
"However, economic conditions are expected to improve in the second half of this year supported by fiscal stimulus measures and enhancing access to financing," said Dr Zeti.
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