Malaysia cuts economic growth estimates for 2015
South East Asia’s third-largest economy set its growth rate with an assumption that crude oil prices would likely to be traded at around $55/bbl in 2015, however some analysts stated that in case crude oil prices may decline more than the government’s expectations to be traded at around $50/bbl, this will put additional downward pressure on the country’s economy.
However, Malaysia’s Prime Minister said that the country isn’t in crisis and they are just taking measures in the face of changing global economies and plunging crude oil prices.
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