Thursday, February 19, 2009

Malaysia says 2009 growth forecast may be cut

Agence France-Presse - 2/17/2009 7:57 AM GMT

Malaysia says 2009 growth forecast may be cut

Malaysia will have to cut its 3.5 percent growth forecast for 2009 if the decline in the country's exports hits double digits, Finance Minister Najib Razak said Tuesday.

"In view of the increasingly challenging international environment and as an open economy, Malaysia is also expected to face the effects of the slowing economy and world trade," Najib told parliament, according to state media.

"This development is expected to continue this year and will impact the country's economic activities throughout it," said Najib, who is also deputy premier and is expected to be appointed prime minister next month.

Malaysia's exports have been declining in recent months, with a 2.6 percent fall in October followed by a 4.9 percent drop in November and a 14.9 percent slid in December.

An influential Malaysian think-tank has already slashed its 2009 economic growth forecast to 1.3 percent.

Malaysia last year unveiled a 2.0 billion dollar stimulus package and Najib said that a second package to be tabled on March 10 would be bigger and more comprehensive.

http://news.my.msn.com/regional/article.aspx?cp-documentid=2541390

No comments:

Related Posts Plugin for WordPress, Blogger...