5-6 PCT GDP GROWTH PROJECTED THIS YEAR, SAYS M'SIAN PM NAJIB

PUTRAJAYA, Aug 18 (Bernama) -- The Government has projected five to six per
cent gross domestic product (GDP) growth this year, Prime Minister Najib Razak
said Thursday.

"However, we feel the growth is more towards nearing five per cent from six
per cent given the current uncertain economic climate," said Najib, who is also
Finance Minister.

The Prime Minister said the projection was made based on the global
uncertainties and volatility in the world economy.

"It's very difficult for us to make assumptions based on one figure alone.
We've decided that the range will be between five and six per cent. We're
still maintaining the target," he told reporters after chairing the National
Finance Council meeting here Thursday.

Malaysia's central bank Bank Negara Malaysia announced Wednesday the second
quarter GDP growth this year was four per cent.

On inflation, Najib said that it was still manageable, with latest figures
showing there was a slight decline.

He said measures being taken such as reducing chicken price have had an
impact in efforts to control the inflation rate in the country.

Najib said the government wants to keep inflation rate low besides ensuring
healthy economic growth.

On deficit target, Najib said the government's commitment to reduce the
deficit from 5.6 per cent to 5.4 per cent was on track.

Asked whether the Finance Ministry had given approval to Malaysia's second
richest man, Ananda Krishnan, to sell his gaming unit, Pan Malaysian Pools Sdn
Bhd, Najib said: "It's a free market, it is his company, so he decides."

According to reports, a consortium formed by a Malaysian Chinese
businessmen, including Genting Bhd chairman Lim Kok Thay, Hong Leong
Financial Group Bhd chairman Quek Leng Chan, Lion Group chairman William Cheng
and businessman Chua Ma Yu is very likely to buy Pan Malaysian Pools, which owns
the country’s third largest numbers forecast operator, from Ananda's company,
Tanjong Plc.
-- BERNAMA