KUALA LUMPUR; The Malaysian Institute of Economic Research (MIER) said the economy will post an ‘exceptionally strong’ growth at 5.9 per cent in 2014.Executive director Dr Zakariah Abdul Rashid said actual growth remained well above the ‘socially efficient level of output’ growth at 5.5 per cent per annum.The output gap remained positive during the year with strong contribution from the external sector.GDP grew by 6.1 per cent in the first three quarters of 2014, driven by robust private consumption." This year will be challenging year as real GDP growth is projected to moderate, depending on crude oil prices and ringgit."He said Malaysia’s fundamentals willl be adversely affected in the short term by the commodity terms of trade shock, ringgit depreciation and anticipated higher interest rates environment.
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