Malaysia's economy is expected to expand by 4.8% this year, Prime Minister Mahathir Mohamad said on Monday, maintaining the government's forecast as it braces for a potential global slowdown tied to the novel coronavirus outbreak.
Mahathir said the government expects the economy to improve on the 4.7% growth projected for 2019 "despite challenging times". He did not elaborate.
"With good fiscal discipline, our budget deficit will narrow to 3.2% 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.