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Malaysia 2012 Growth to Miss Official Target, Institute Says

Malaysia’s growth will probably miss the government’s forecast this year amid the faltering global economy, according to the Malaysian Institute of Economic Research.

Southeast Asia’s third-largest economy will expand 3.7 percent in 2012, the partly-government funded institute said in a statement in Kuala Lumpur today, cutting its earlier estimate of 5 percent gross domestic product expansion. This is below the 5 percent to 6 percent government forecast in its Oct. 7 budget statement.