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Nikkei Markets

World Bank sharply cuts Malaysia's 2018 growth view

Lower-than-expected government spending, external jitters dent growth prospect

Malaysia's economic growth rate has decelerated for three straight quarters and expanded 4.5% in April-June period.   © Reuters

KUALA LUMPUR (Nikkei Markets) -- The World Bank Thursday sharply cut its 2018 economic growth forecast for Malaysia to 4.9% from 5.4% and said the expansion pace could steadily decelerate through 2020.

Gross fixed capital formation is expected to expand "modestly" with lower-than-expected public spending dampening growth prospects, the World Bank said in East Asia and Pacific Economic Update report. Exports growth rate will likely slow to 3.7% each in 2018 and 2019 from nearly 10% in 2017, it said.

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