Donald Lim: 5% GDP growth on track

Malaysia is on track to achieve a five per cent gross domestic product (GDP) growth this year, despite a gloomy global economic environment and lower trade figures for the first six months of the year, Deputy Minister of Finance Datuk Donald Lim Siang Chai said.

He said Malaysia's strong domestic demand, foreign tourists inflow and intra-Asian trade will provide the buffer against the global economic situation.

"Malaysia's trade to the United States and European countries have been reported to have decreased for the first half of this year.

"That does not really affect Malaysia's economic performance because most of is major trading partners remain in Asia, which is currently the region of growth," Lim told reporters after delivering his closing address at the 17th Malaysian Capital Market Summit 2012, here, Monday.

The government aims to register a GDP expansion of 4.5 per cent to five per cent this year.