Malaysia’s economic growth is expected to rebound in 2017 and 2018 on a recovery in oil prices and export goods, chief economist for East Asia and Pacific Region Sudhir Shetty said.

Malaysia’s economic growth is likely to slow to 4.2 percent in 2016 from 5.0 percent last year as oil and manufactured exports are affected by weaker global demand, Shetty said.

“We have seen the recovery trend right now,” he told Malaysian media via a video conference from Washington DC in Kuala Lumpur today.

Overall, growth in developing East Asia and Pacific is expected to remain resilient over the next three years, growing at 5.8 percent this year and 5.7 percent in 2017-2018.

Meanwhile, the World Bank expects China to continue its gradual transition to slower, but more sustainable growth from 6.7 percent in 2016 to 6.5 percent in 2017 and 6.3 percent in 2018.

- Bernama