Malaysia has trimmed its 2016 growth forecast and said it would cut spending as slumping global oil prices squeeze the. Finances of Southeast Asia 's third-largest economy. It also maintained its fiscal deficit target for this year at 3.1% of. GDP contrary to, expectations by some economists that the gap would be widened. The world 's second-largest exporter of liquefied. Natural gas has been hit hard by a tumble in crude, oil prices which Malaysian policymakers forecast will average US $48. A barrel this year.
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