Fitch: Politics will blunt Malaysia's economic growth for next 10 years

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Politics in Malaysia is expected to blunt economic growth for the next decade, predicts financial analyst Fitch Solutions.Combined with slower population growth and reduced fiscal space to cushion against negative future economic shocks, Fitch predicts real GDP growth to be at just 3.4 percent over the next 10 years compared to 6.4 percent over the past decade.In a forecast comment today, Fitch said among the political issues that will weigh down on the economy are constant power shifts as Malaysia transitions away from single-party rule."We expect power to change hands often, leading to questionable policy continuity and stalled reform momentum," it said, citing the February change in government as proof of the potential for upheaval."While a successful transition to a more stable multi-party or two-party system present in more mature democracies could eventual…