KUALA LUMPUR: The Malaysian Institute of Economic Research (Mier) is revising downward its forecast for the country's gross domestic productivity (GDP) growth next year to 5.4% from 5.8%, against the Government's targeted 6%. It is, however, maintaining GDP growth for the year at 5.7%.
Executive director Professor Datuk Mohamed Ariff Abdul Kareem said the downward revision was due to the subprime mortgage crisis in the US and had not taken into account the higher crude oil prices in recent weeks.
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