The government will revise downwards the earlier 3.5% forecast Gross Domestic Product (GDP) for this year as the earlier projected figure was no longer sustainable in view of the weekening external economic environment.
Deputy Prime Minister Datuk Seri Najib Tun Razak said the new projected GDP percentage would be announced together with the mini budget on March 10, but declined to say how significantly lower the new projected percentage would be.
Najib said that Malaysia’s actual GDP for the fourth quarter of 2008 saw a growth of only 0.1%; the lowest since the third quarter of 2001 when the growth rate -0.4%.
“I do not think that we can anticipate an improvement in the GDP figures for the next quarter (first quarter of 2009), but of course, it all depends on the situation in the
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