The Malaysian economy decelerated assolid domestic demand was not sufficient to offset aweakening external environment. Private consumption growthcontinued at a healthy pace. Favorable rubber and palm oilprices drove up incomes of smallholders while continuedemployment and wage growth supported urban incomes. Incontrast, fixed investment was more volatile, with privateinvestment showing signs of picking up while publicinvestments lagged. Malaysia's overall balance ofpayments recorded a larger surplus in the first half of theyear reflecting a widening current account surplus andsubstantial net financial inflows. Malaysia's openeconomy is expected to slow further in the remainder of 2011and into early 2012 mainly due to the deterioration in theoutlook for external demand. Cities are central toMalaysia's aspiration to become a high-income economy.Smart cities are skilled and innovative. They play a crucialrole in catalyzing economic growth by generatingproductivity gains through agglomeration economies. Smartcities are green and sustainable. They ensure a high qualityof life to all citizens and the sustainability of economicgains. Finally, smart cities are resilient.
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