Economic figures up for Malaysia - radio style

Next year is looking good for the Malaysian economy as it responds well to the growth from East Asian economies.
This positive sentiment led think tank Malaysian Institute of Economic Research or the MIER to revise its forecast gross domestic product or GDP figures upwards.
Its executive director Professor Dr Mohamed Ariff says Malaysia’s 2007 GDP forecast is raised to 5.2% from an earlier estimate of 4.8%.
He says this is because Malaysia is less sensitive to US economy’s slowdown and is benefiting well from intra-trade with East Asian economies.
But, Dr Mohamed Ariff cautioned that uncertainties may increase in 2008 which might result in a recession in a worst-case scenario.
He says if the US dollar does not make the adjustments and goes on a spending spree during its elections, it may lead to a kind of crunch.
MIER hopes that the US economy will slowdown now and for US dollar will take a softer landing to avoid a crisis of global proportions.