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Malaysia growth forecast raised

The Malaysian Institute of Economic Research (MIER) has revised upwards its national economic growth forecast to 5.2 percent for this year from 3.7 percent earlier, based on rising consumer and business confidence in the first quarter of 2010.

"Downside risks are still prevalent and might perturb the road to recovery but there are stronger positive influences that led to MIER’s projections," said its executive director Dr Zakariah Abdul Rashid at the think-tank’s corporate economic briefing in Kuala Lumpur yesterday.