Malaysia's GDP can grow at least 5 per cent this year

Malaysia's gross domestic product (GDP) can grow at least by five per cent this year if the country maintains its momentum from the first half of the year, said Deputy Finance Minister, Datuk Othman Aziz.

He said the government had to date, not revised the initial growth target of between 4.3 per cent and 4.8 per cent, but may do so, if there are indications of a better performance in the upcoming months.

"If the current momentum can be maintained, I am confident it would be no less than five per cent (GDP growth)," he told reporters after delivering his keynote address at the Annual Financial Planning Signature here today.

Malaysia' GDP grew by 5.6 per cent in the first quarter and 5.8 per cent in the second.

Though many independent reports suggested Malaysia could achieve at least five per cent growth this year, Othman said the government would not set an ambitious target, before being really convinced that it can be achieved.

"Officially, we are sticking to the initial forecast, as we do not want to be too eager in chasing the numbers but fail to achieve the target.

"We have a moderate forecast, but we are doing better than that," he added.

The one-day conference, themed, "Upholding High Integrity - The Cornerstone in Financial Planning", was organised by the Malaysian Financial Planning Council, with the support of the Association of Financial Advisers, Financial Planning Association of Malaysia and the Malaysian Financial Planners and Advisers Association.

The conference is aimed at supporting and building the financial planning profession, as well as to foster a better working relationship among the top four financial planning associations in Malaysia.

-- BERNAMA