The Executive Director of Malaysian Economic Research has stated that they have lowered their 2013 economic growth forecast for Malaysia to 4.8% from 5.6%. The lower projections were in part a result of the declining exports which fell 3.3% in the first half of this year. This is primarily attributed to the global economy not picking up. They think the economy will grow faster in the second half of the year, but recognise there are still problems which the government has to address, particularly in structural reforms. EY, formerly called Ernst and Young, also recently lowered its forecasted economic growth for Malaysia to 4.7% from 5%.
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