The Asian Development Bank (ADB) has forecast growth of 4.7 percent for Malaysia next year, down slightly from 4.8 percent in 2011, due to a potential slump in exports to the advanced economies of US and Europe.

The bank said in its report on Asia macroeconomic development released on Tuesday that while US economic growth could strengthen somewhat, the euro zone will likely fall into either a brief recession or a more severe long-term downturn.