首页 / Malaysia News / General : Decline In Savings Not Worrying As Investments Remain Strong – Zeti

General : Decline In Savings Not Worrying As Investments Remain Strong – Zeti

KUALA LUMPUR, Nov 14 (Bernama) — The decline in savings among businesses and individuals is not at worrying levels as investment activities are still strong, Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz said.

She said the decline translated into narrowing surplus in the balance of payment which accounted for three per cent of the gross national income.

“Yes, we are seeing some moderation in savings activity but this has not put a limit on access to funding.

“This is proven by investments that continue to grow significantly,” she told a media briefing on the country’s third quarter gross domestic product (GDP) performance in Kuala Lumpur, Friday.

On managing fiscal debts, Zeti said the bank is well aware that there is a need to remain prudent in the growth in national debt and its contingent liabilities.

“The government is looking at measures to lower the debt growth and this is proven with the declining of its debt ratio to the GDP, from 55 to 52.8 per cent.

“We are pleased that the deficit trend is declining as well, demonstrating the government’s commitment to deal with the issue,” Zeti said.

For the third quarter, Malaysia’s economy expanded by 5.6 per cent from five per cent in the corresponding quarter last year but lower than 6.5 per cent in the second quarter.

The central bank expects the GDP growth to be between 5.5 and six per cent for the whole of 2014, and between five and six per cent next year.

–BERNAMA

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