Malaysia's economy to grow 4.5% in 2020: Mahathir

[KUALA LUMPUR] Malaysia's economy is expected to expand by 4.5 per cent this year, Prime Minister Mahathir Mohamad said on Monday, down from the government's initial estimate of 4.8 per cent.

Mr Mahathir cited "challenging times" for the downwards revision to the government's forecast, which was announced when the 2020 budget was tabled in November. He did not elaborate.

"With good fiscal discipline, our budget deficit will narrow to 3.2 per cent this year. We are committed to provide a stable business environment for investors. We will be business friendly," he said in his speech at a business conference.

REUTERS