RAM Holdings' earlier forecast of 5.8% growth for Malaysia in 2008 was predicated on low US economic growth, a slight slowdown in the global economy and stronger government spending push in 2008 under the Ninth Malaysia Plan (9MP).
However, group chief economist Yeah Kim Leng said, domestic demand may be affected by a possible US economic recession, slower government spending as well as a more cautious investment sentiment in the aftermath of the local general election.
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