MALAYSIA’S gross domestic product growth this year will be closer to 5 per cent than 6 per cent amid a ”less than benign” global economy, says Prime Minister Najib Razak.
Its economic expansion was expected to pick up in the third and fourth quarters after growing 4.6 per cent in the first half, Mr Najib said in Honolulu where he was attending the Asia-Pacific Economic Co-operation forum.
Malaysia’s central bank left interest rates unchanged this month, joining nations from South Korea to China in keeping borrowing costs steady to sustain spending at home, as the turmoil over sovereign debt in Europe threatens to further weaken the global recovery. Mr Najib released a budget last month that gives cash to low-income families and raises civil servants’ pay, a sign he may be preparing to call elections before they are required by early 2013.
Source : The Sydney Morning Herald