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Malaysia not likely to slump
Source: Agencies |
January 12, 2009, Monday
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Print Edition
MALAYSIA will not slip into a recession this year, a minister said, as he urged the nation's banks to offer loans to small and mid-size businesses, news reports said yesterday.
The impact of the global financial downturn will be softened by government moves, including a plan to inject 7 billion ringgit (US$2 billion), Second Finance Minister Nor Mohamed Yakcop, was quoted as saying.
The Star newspaper quoted Nor Mohamed as saying the Malaysian economy is still strong although many countries are in a recession and an economic contraction.
The government has said the economy will grow 3.5 percent in 2009, but economists have warned growth could fall below 2 percent.
The impact of the global financial downturn will be softened by government moves, including a plan to inject 7 billion ringgit (US$2 billion), Second Finance Minister Nor Mohamed Yakcop, was quoted as saying.
The Star newspaper quoted Nor Mohamed as saying the Malaysian economy is still strong although many countries are in a recession and an economic contraction.
The government has said the economy will grow 3.5 percent in 2009, but economists have warned growth could fall below 2 percent.
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