Malaysia sees sustainable growth

Tue, 27 Jul 2004 | Source: AFP

KUALA LUMPUR: Malaysia should be able to grow its economy at an annualized rate of around seven percent a quarter putting the country on course to become a developed nation by 2020, Deputy Prime Minister Najib Razak said on Monday.

Malaysia's gross domestic product in the three months to March this year grew at a higher-than-expected rate of 7.6 percent, the strongest quarterly growth rate in more than three years.

Analysts though have warned that the growth rate is likely to slow in the third quarter this year.

They fear Malaysia's economy will be crimped by a pullback in activity in the key markets of the U.S. and China as a result of rising interest rates, high oil prices and the growing current account deficit in the United States. -- AFP

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