Malaysia’s domestic consumption and government spending will support growth as overseas demand eases, the Malaysian Institute of Economic Research said, adding pressure on Prime Minister Datuk Seri Najib Razak to bolster the economy as the global recovery falters. Southeast Asia’s third-largest economy will grow 4.2 percent this year and 4.7 percent in 2013, the institute said in a statement in Kuala Lumpur today. Its estimate for 2012 was unchanged from a previous forecast. Malaysia must have economic growth of 5 percent to 6 percent annually to avoid facing “many problems,” Najib said in a speech today.
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Malaysia economy to grow 4.2pc: MIER
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