Malaysia economy to grow by at least 5%

Malaysia economy to grow by at least 5%

KUALA LUMPUR: Malaysia's economic growth is not expected to drop below the government's minimum target of five percent this year, despite the impact of soaring crude oil prices, news reports said on Friday.

Deputy Finance Minister Tengku Putera Awang said many of the country's economic sectors were holding up well despite high oil prices, the Star newspaper said.

He said Malaysia's gross domestic product growth isn't expected to drop below 5 percent this year.

On Wednesday, Prime Minister Abdullah Ahmad Badawi, who is also finance minister, said the government will review this year's economic growth forecast due to the high price of crude oil. -- AP