Bank Negara Malaysia 2015 Report

Highlights of Bank Negara Malaysia's Annual Report 2015
23 March 2016 | Source: Bernama
KUALA LUMPUR, March 23 (Bernama) -- Following are the highlights of the 2015 Bank Negara Malaysia Annual Report:
* Economy to expand by 4 per cent and 4.5 per cent in 2016 driven mainly by domestic demand (2015: 5 pct)
* Bank Negara Malaysia declares dividend payout of RM3 billion to the government for the year 2015
* The services and manufacturing sector expected to grow at a moderate rate of 4.4 per cent and 4.1 per cent, respectively, in 2016 (2015 : 5.1 pct and 4.9 pct, respectively)
* Mining and quarrying and construction to see an expansion of 3.5 per cent and 7.9 per cent, respectively, in 2016 (2015 : 4.7 pct and 8.2 pct, respectively)
* Agriculture sector to contract marginally by -0.3 per cent in 2016, largely due to lower palm oil yields following the hot and dry weather conditions brought about by the strong El-Nino weather phenomenon (2015: 1 pct)
* Gross exports are forecast to expand by 2.4 per cent in 2016, sustained by a modest improvement in demand from advanced economies and continued growth in regional economies (2015: 1.9 per cent)
* Gross import growth is projected to increase to 4.9 per cent in 2016 (2015: 0.4 per cent)
* Private consumption to growth is projected to moderate to 5.1 per cent in 2016 (2015: 6 pct)
* Private investment growth is projected to trend below its long-term average and grow by 5.5 per cent in 2016
* Headline inflation is projected to be higher at 2.5 per cent to 3.5 per cent in 2016 (2015: 2.1 pct)
* Public consumption growth is expected to moderate to 2 per cent in 2016, reflecting mainly the lower spending on supplies and services given the government's commitment to more prudent spending under the current uncertain environment
* Public investment is projected to turn around to register a positive growth of 1.1 per cent
* Consumer spending to be affected by an environment of higher prices and greater uncertainty but remain supported by continued income and employment growth
* Private investment to trend below long-term average in 2016, however, growth remains supported by on-going and new investments, particularly in the manufacturing sector
* While ringgit has strengthened in recent months, volatility is likely to persist going forward
* Total assets of Bank Negara Malaysia amounted to RM440.6 billion with international reserves of RM409.1 billion (US$95.3 billion)
* International reserves are adequate to provide a buffer against external shocks and facilitate international transactions
* Banking system surplus liquidity remained high at RM178.3 billion as at January 2016
* Malaysia's external debt stood at RM833.7 billion, equivalent to US$192.2 billion or 72.1 per cent of GDP as at end of 2015 (2014: RM747.1 per cent of GDP)
* The current account surplus may be lower at RM19.1 billion or 1-2 per cent of Gross National Income in 2016, on account of lower goods surplus and wider income deficits
* The unemployment rate may increase slightly but is expected to remain low at around 3.3 per cent and 3.5 per cent (2015: 5.7 pct)
* Malaysia's population to increase to 31.4 million in 2016 (2015 : 31 million)
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