【Kuala Lumpur】　Moody's Analytics has raised its full-year gross domestic product (GDP) growth forecast for Malaysia to 7% as of June for this year, saying that the country's economic outlook has improved due to higher oil prices and the reopening of the economy from Covid-19 closure.

Moody's Analytics Asia Pacific Region (APAC)'s chief economist, Steve Cochrane, pointed out that with the pandemic nearing its end and relaxation of social distance rules in Southeast Asia, domestic consumption has increased, exceeding expectations. Like Philippines, GDP for the first quarter of the year did better than projected. He also analysed that Malaysia is a net exporter in crude oil which has benefitted from the rising crude oil prices and strong high-tech product exports. This broad export base in Malaysia is a good sign for the country.
Mr. Cochrane also noted that domestic consumption has recovered. He predicted that the lifting of pandemic restrictions has revived the country’s economy, which will in turn, further accelerate domestic demand recovery.
（Malaysian Reserve、June 30th）

Provided by：Asia Infonet