ID :
36302
Thu, 12/18/2008 - 15:56
Auther :
Shortlink :
https://oananews.org//node/36302
The shortlink copeid
M'SIA CONFIDENT OF 5.0 PERCENT GROWTH IN 2008 GDP
KUALA LUMPUR, Dec 18 (Bernama) -- The Malaysian government is confident of a growth of at least five percent in the gross domestic product (GDP) for 2008 if the country's economic growth expanded by an average of 1.2 percent in the last three months, Second Finance Minister Nor Mohamed Yakcop said Wednesday.
"We only need a 1.2 percent economic growth in the final three months to
achieve the five percent GDP growth. In the first six months, we already
achieved 6.3 percent," Nor Mohamed said when presenting Budget 2009 for debate
in Upper House of Parliament.
He also said that the RM7 billion (US$1=RM3.53) stimulus package should be
adequate in facing the current global financial crisis and implementing various
programmes and activities to boost the domestic economy.
Nor Mohamed said the government was always monitoring closely all
developments, particularly those relating to the impact of the world economic
downturn.
He denied an allegation that Singaporeans are in the National Economic
Council secretariat, saying Malaysia has enough knowledge and experience to
manage the economy.
He, however, said that foreign expertise can be used but only in specific
sectors.
Nor Mohamed also denied that tax incentives and exemptions in the 2009
Budget offered more benefits to the higher income groups compared to those with
lower income.
He said those in the lower income groups stood to gain as the government
was providing various tax exemptions and rebates for them, adding that less than
two million out of the 11 million working were required to pay taxes.
On a proposal to provide additional allocation to develop small towns in
2009, Nor Mohamed said the government would study the need after looking at how
the RM100 million allocation has been utilised.
-- BERNAMA
"We only need a 1.2 percent economic growth in the final three months to
achieve the five percent GDP growth. In the first six months, we already
achieved 6.3 percent," Nor Mohamed said when presenting Budget 2009 for debate
in Upper House of Parliament.
He also said that the RM7 billion (US$1=RM3.53) stimulus package should be
adequate in facing the current global financial crisis and implementing various
programmes and activities to boost the domestic economy.
Nor Mohamed said the government was always monitoring closely all
developments, particularly those relating to the impact of the world economic
downturn.
He denied an allegation that Singaporeans are in the National Economic
Council secretariat, saying Malaysia has enough knowledge and experience to
manage the economy.
He, however, said that foreign expertise can be used but only in specific
sectors.
Nor Mohamed also denied that tax incentives and exemptions in the 2009
Budget offered more benefits to the higher income groups compared to those with
lower income.
He said those in the lower income groups stood to gain as the government
was providing various tax exemptions and rebates for them, adding that less than
two million out of the 11 million working were required to pay taxes.
On a proposal to provide additional allocation to develop small towns in
2009, Nor Mohamed said the government would study the need after looking at how
the RM100 million allocation has been utilised.
-- BERNAMA
