KUALA LUMPUR, Nov 15 (Bernama) — Malaysia has the potential to achieve an economic growth of between 5.5 and six per cent as targeted for this year, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

He said this was based on positive economic performance in the previous quarter as well as the prevailing economic stability.

“Even though the gross domestic product (GDP) for the third quarter was less encouraging, the growth was still within the budget forecast.

“We have anticipated that there would be a slight drop (in the third quarter this year) from 6.5 per cent in the second quarter as it was linked to the prevailing world economic conditions, but was still within the forecast.

“Looking at the performance in the fourth quarter, we (the government) believe the forecast could be achieved.

“This is based on investment, export and foreign trade performance that would enable Malaysia to be ahead of many countries,” Mustapa told reporters on the sidelines of the Ministry of International Trade and Industry’s Fitness Day in the capital, Saturday.

He said the current international market was still less encouraging, but Malaysia would still be able to record a positive growth and maintain the third quarter performance.

Malaysia’s economy expanded by 5.6 per cent in the third quarter this year, higher than the five per cent achieved in the same quarter last year, driven by private sector demand.

The GDP growth for the second quarter was revised higher to 6.5 per cent from 6.4 per cent previously, Bank Negara Malaysia (BNM) said Friday.

BNM Governor Tan Sri Dr Zeti Akhtar Aziz said Malaysia’s economy was expected to grow at 5.8 per cent this year and between five and six per cent in 2015.