Malaysia too dependent on oil and gas, says World Bank

The institution says the country should prepare for the day when fossil fuels deplete, and start looking for alternative revenue sources.

Also, the World Bank said in a statement yesterday that Malaysia's gross domestic product (GDP) would decline 2.3 percent this year and grow 4.1 percent in 2010 due to conditions in the country's manufacturing sector that accounted for some 30 percent of the GDP.