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Malaysia economy to grow by a slower 4.5pc
by hlk Fri 11 May 2012, 00:47
KUALA LUMPUR: Malaysia's economy is expected to grow by a slower
4.5 per cent this year due to weaker external demand, according to the United Nations Economic and Social Survey of Asia and the Pacific (ESCAP) 2012.
International Centre for Education in Islamic Finance (ICEIF) Professor Emeritus Datuk Dr Mohamed Ariff Abdul Kareem said the economy will be spurred by domestic demand.
He also said there is a possibility of the economy growing at five per cent or more in 2013.
However, Mohamed Ariff said Malaysia's budget deficit is a major concern, as its credit rating is under pressure.
"There is a need to rein in expenditure and increase tax revenue," he added.
Malaysia's fiscal deficit stood at five per cent last year compared with 5.6 per cent previously. - Bernama
4.5 per cent this year due to weaker external demand, according to the United Nations Economic and Social Survey of Asia and the Pacific (ESCAP) 2012.
International Centre for Education in Islamic Finance (ICEIF) Professor Emeritus Datuk Dr Mohamed Ariff Abdul Kareem said the economy will be spurred by domestic demand.
He also said there is a possibility of the economy growing at five per cent or more in 2013.
However, Mohamed Ariff said Malaysia's budget deficit is a major concern, as its credit rating is under pressure.
"There is a need to rein in expenditure and increase tax revenue," he added.
Malaysia's fiscal deficit stood at five per cent last year compared with 5.6 per cent previously. - Bernama
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