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Nikkei Markets

Malaysia expects consumption and commodities upturn to drive growth

Finance minister bets on budget incentives to reverse tepid domestic investments

Malaysia is grappling with a persistent decline in domestic investment, but its finance minister is hopeful this will change.   © Reuters

KUALA LUMPUR (Nikkei Markets) -- Malaysia is banking on resilient private spending and fiscal incentives to reverse sagging domestic investments and help perk up economic growth next year, the federal finance minister said.

A rebound in commodity prices as well as oil and gas production recovery will also help lift gross domestic product growth pace to 4.8% in 2020 from the projected 4.7% this year, Lim Guan Eng told Nikkei Markets in an interview. The government has fiscal space to implement contingency measures if economic conditions worsen, he said.

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