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Malaysia Cuts 2013 Growth Forecast as Expansion Misses Estimates

Malaysia cut its forecast for growth this year after second-quarter expansion missed economists’ estimates, adding pressure on policy makers to bolster confidence as the ringgit weakens.

The economy may expand 4.5 percent to 5 percent in 2013, from a previous prediction of as much as 6 percent, the central bank said in Kuala Lumpur today. Gross domestic product rose 4.3 percent last quarter from a year earlier, after gaining 4.1 percent in the previous period, it said.