MALAYSIA'S export-dependent economy will shrink 2.2 per cent this year, more than the government and central bank are forecasting, the country’s top economic think tank said today.
The Malaysian Institute of Economic Research (MIER) said in a report that the central bank could cut interest rates to 1.5 per cent or lower, down from 2 per cent at present.
MIER said that Malaysia’s economic growth should bounce back to 3.3 per cent in 2010 as the global economy recovers. - Reuters