| The central bank's new measures exempted loans for the purchase of owner-occupied houses and flats, industrial facilities and theme parks to boost the tourist industry. Punters are also still allowed to borrow in order to buy shares in initial public offerings by infrastructure companies. Following the announcement of these measures, banks have suspended margin financing until they have calculated their existing exposure. The market looks set for a bearish period. This year's surge of mega projects could also have an effect on the macro economy for the first time. The finance ministry forecasts GNP growth at 8%, down slightly on last year's estimated 8.2%. Exports are forecast to reach M$204.5 billion, up from an estimated M$187 billion in 1996. Imports are expected to reach M$194.5 billion, up from M182.4 billion. The current account, bane of most south-east Asian countries, is forecast to be in deficit to the tune of M$11.5 billion, down from last year's M$13 billion and its peak of M$18.7 billion in 1995. But figures from the central bank are less sanguine. Bank Negara forecasts 1997 growth at between 7.8% and 8.2%. It puts exports at M$206.5 |