The Malaysian economy is expected to be over 4.5 per cent this year.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said growth has been strong and stable, unemployment and inflation remain at low levels.

Private investments were all time high in 2012, he said.

"Growth is expected to be around 5 per cent to 5.5 per cent in 2014, despite softer conditions in the world economy," he said when launching the two-day National Economic Outlook Conference 2014-2015 in Kuala Lumpur this morning.

Malaysia's economic development will have to deal with having more participation in value addition and nurture new export players.