Malaysia’s Najib Sees Likelihood of GDP Contraction

By Thursday May 21st, 2009 No Comments

May 21 (Bloomberg) — Malaysia’s central bank is likely to cut the country’s 2009 economic forecast from an estimate of “flat” growth this year, the Singapore Business Times reported, citing Prime Minister Najib Razak.

The gross domestic product revisions will be made as policy makers study the economy’s performance in the first quarter, the paper said.

Malaysia will be flexible in negotiating free-trade agreements with countries such as the U.S. and Australia, even as it remains reluctant to change national objectives such as government procurement contracts to achieve such pacts, the newspaper said, citing Najib.

The Malaysian government will not pursue the resumption of a bridge project to replace the current one linking it to Singapore until both sides are comfortable with the issue, the newspaper said.

Source : Bloomberg

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