MALAYSIA: GOVT INITIATIVES PROVE WRONG ‘FAILED STATE’ ALLEGATIONS – PM NAJIB
KUALA LUMPUR, Malaysia — The various initiatives of the government to strengthen the national economy have borne fruit and proved wrong the allegations condemning Malaysia as a failed state, Najib Tun Razak said today.
The Prime Minister said the government’s far-sighted economic plan and proactive measures to implement important decisions had strengthened the nation’s economic resilience to face external challenges.
“The proof is that the Gross Domestic Product recorded a growth of 5.6 per cent for the first quarter of 2017. This performance is supported mainly by public sector spending,” said Najib, who is also the Finance Minister, when replying to an oral question in the Dewan Rakyat (Lower House).
He was replying Ahmad Hamzah (BN-Jasin) who had wanted the Finance Minister to state the probability that Malaysia will achieve high-income status by 2020 after taking into account the projection of Bank Negara Malaysia that the country’s economy will recover strongly this year and the projection of the International Monetary Fund that the world economy is recovering.
Najib said the IMF recently revised the country’s economic growth forecast for 2017 from 4.5 per cent to 4.8 per cent while the World Bank forecast the GDP growth to be 4.9 per cent compared to its original forecast of 4.3 per cent.
Source: NAM NEWS NETWORK