Malaysia trimmed its 2015 growth forecast on Tuesday and said the fiscal deficit would be bigger than expected after the sharp fall in oil prices hit the petroleum-exporting nation’s economic plans, Channel NewsAsia reported. Prime Minister Najib Razak called the situation a “reality check” but assured Malaysians the country was not in trouble, unveiling measures he said would keep the economy moving forward. “We are not in crisis. Indeed, we are taking pre-emptive measures following the changes in the external global economic landscape which are beyond our control,” Najib said in a nationally televised address.
