MIER keeps Malaysia GDP growth forecast for 2015, 2016

Malaysian Institute of Economic Research (MIER) maintains the forecast of 2015 GDP growth at 4.8 percent and 2016 GDP at 5.5 percent for the country despite the declining international oil price and the sharp fall of Malaysian ringgit.

Palm oil and liquefied natural gas (LNG) are the main export products of Malaysia, which account for 22.4 percent of the total export products and contribute to 14 percent of total exporting revenue.

On the other hand, Malaysia, as a net importer of oil-related product, can benefit from the oil price decline.

Besides, the research institute forecasts the inflation rate of 2015 and 2016 at 2.5 percent and 3.0 percent respectively.