Malaysia's 7.2 pct Growth Measures Bear Fruit

KUALA LUMPUR (Bernama) - Prime Minister Najib Razak said government
measures to tackle the impact of global financial crisis on Malaysia brought
very encouraging results as shown by the 7.2 percent economic growth announced
by the central bank today.

The prime minister said the figure spoke not of a modest economic recovery
but a strong and sustainable growth, and the country would continue to feel its
momentum this year.

"I hope we can achieve the six percent target for this year although the
challenges surely will be very big because when our economy continues expanding,
the future upside will be more challenging than the past years," he told
reporters after meeting longhouse elders from Belaga in the east Malaysian state
of Sarawak, at Putra World Trade Centre here.

Bank Negara Malaysia reported in its "Economic and Financial Developments in
the Malaysian Economy in the Fourth Quarter of 2010" that the country registered
7.2 percent growth last year compared with a contraction of 1.7 percent in 2009.

For the fourth quarter 2010, the economy grew 4.8 percent.

Higher private and public sector spending contributed to the expansion in
domestic demand while the slower growth in the global economy had led to weaker
growth in external demand, the central bank said.

On the supply side, all economic sectors with the exception of the primary
sectors, continued to expand further during the quarter, it added.

The prime minister said the government would continue its efforts to
strengthen local demand particularly through the private sector playing their
roles in respect to investment and consumption.

"Projects under the Economic Transformation Programme which are being
implemented at various stages are believed able to stimulate economic growth as
expected," Najib said.