ID :
150733
Mon, 11/22/2010 - 18:45
Auther :
Shortlink :
https://oananews.org//node/150733
The shortlink copeid
ECONOMIC GROWTH CAN SURPASS SIX PCT DESPITE CHALLENGING EXTERNAL ENVIRONMENT, SAYS M`SIAN PM
KUALA LUMPUR, Nov 22 (Bernama) -- Malaysia's economy can grow beyond six
per cent this year despite the challenging external environment, says Prime
Minister Najib Razak.
"We started with six per cent, so we will go beyond six per cent. In fact,
most analysts have predicted seven per cent or slightly beyond seven per cent
this year," he told reporters after delivering a keynote address at the Global
Business Leaders Forum 2010 here Monday.
On the third quarter GDP to be announced by Bank Negara Malaysia (Malaysia's
central bank) later Monday, he said: "I don't want to steal the thunder because
the announcement will be made. I know the figures."
"In the second quarter, we hoped to sustain our growth rate albeit with a
slightly lower percentage due to the external environment, meaning the
manufacturing sector's growth hinged on the demand from advanced countries.
"Their economy did not grow at an encouraging rate, that's why our
manufacturing sector's growth figure is not that high," said Najib, who is also
Finance Minister, when asked to comment whether the third quarter would register
a higher growth figure.
Najib however said the overall growth projections for this year have
surpassed the set target.
On the progress of the second phase of the National Economic Model (NEM),
Najib said it would be unveiled soon.
"We want to make sure of the strategic reform initiatives (SRIs). They
touched on major policy considerations, so they need to be studied very
carefully so that once the report comes out, the government has to be
comfortable with the recommendations (made)," he said.
"Although they are only recommendations and are not compulsory for the
government to accept them, the report has to be in tandem with what is doable by
the government.
"It is important that the SRIs are implemented because they are another
important leg of the NEM," he said.
He pointed out that the Economic Transformation Programme (ETP) and the
SRIs are the enablers for the NEM transformation.
"Eventhough the people are more focused on ETP projects, it is equally
important that the SRIs are also implemented by the government," he added.
-- BERNAMA
per cent this year despite the challenging external environment, says Prime
Minister Najib Razak.
"We started with six per cent, so we will go beyond six per cent. In fact,
most analysts have predicted seven per cent or slightly beyond seven per cent
this year," he told reporters after delivering a keynote address at the Global
Business Leaders Forum 2010 here Monday.
On the third quarter GDP to be announced by Bank Negara Malaysia (Malaysia's
central bank) later Monday, he said: "I don't want to steal the thunder because
the announcement will be made. I know the figures."
"In the second quarter, we hoped to sustain our growth rate albeit with a
slightly lower percentage due to the external environment, meaning the
manufacturing sector's growth hinged on the demand from advanced countries.
"Their economy did not grow at an encouraging rate, that's why our
manufacturing sector's growth figure is not that high," said Najib, who is also
Finance Minister, when asked to comment whether the third quarter would register
a higher growth figure.
Najib however said the overall growth projections for this year have
surpassed the set target.
On the progress of the second phase of the National Economic Model (NEM),
Najib said it would be unveiled soon.
"We want to make sure of the strategic reform initiatives (SRIs). They
touched on major policy considerations, so they need to be studied very
carefully so that once the report comes out, the government has to be
comfortable with the recommendations (made)," he said.
"Although they are only recommendations and are not compulsory for the
government to accept them, the report has to be in tandem with what is doable by
the government.
"It is important that the SRIs are implemented because they are another
important leg of the NEM," he said.
He pointed out that the Economic Transformation Programme (ETP) and the
SRIs are the enablers for the NEM transformation.
"Eventhough the people are more focused on ETP projects, it is equally
important that the SRIs are also implemented by the government," he added.
-- BERNAMA
