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OECD: Malaysia will maintain stable growth [07-12-2012]  
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Malaysia will continue to experience "stable" growth at 5.1 per cent between 2013 and 2017, says the Organisation for Economic cooperation and Development (OECD).

Southeast Asian economies will show resilience through 2017, maintaining the same level of growth momentum as during the pre-crisis period although the growth in China will begin to slow gradually.

"Domestic demand, particularly private consumption and investment, will be the main driver of growth in most cases," remarked its head of Asia desk Kensuke Tanaka, adding that growth will be less reliant on net exports.

OECD projected Indonesia to grow by 6.4 per cent, higher than Singapore (3.1 per cent), Thailand (5.1 per cent), Philippines (5.5 per cent) and Brunei (2.4 per cent).

"The slower projected growth for these countries compared to Indonesia highlights the fact that they are now in the stage where further rapid gains in productivity become more difficult and risks increase of falling into a 'middle income trap' of slower growth."

Countries like Malaysia would need to strengthen its fiscal capacities. Broadening the value-added tax base and improving the revenue collection would raise the GDP by several percentage points.

"Malaysia will need to address some important long standing economic weaknesses towards becoming an advanced economy within the next decade - skill shortages and mismatches and deficiencies in the education system and the low participation of women in the work force, need to be remedied."

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