Malaysia can achieve projected growth rate, says deputy minister

Malaysia will be able to achieve the projected growth rate of 4.5 per cent to five per cent this year, said Deputy Minister in the Prime Minister’s Department Datuk S.K. Devamany.

He said the growth would be helped by the aggressive implementation of development projects by the public and private sectors and the income boost following the various perks under Budget 2013 which would help increase disposable income.

He said the economy recorded strong growth of 5.4 per cent in the second quarter of this year from 4.9 per cent in the first quarter.

“Although global economic growth was weak, Malaysia’s high growth was achieved via the introduction of various aggressive measures in the country, especially in efforts to increase private sector investment and the development of sustainable private sector,” he said.

Devamany said this in reply to a question by Datuk Ibrahim Ali (Independent-Pasir Mas).

Ibrahim wanted to know the nation’s gross domestic product growth compared to other ASEAN nations like Indonesia, Singapore and the Philippines.

The deputy minister said Malaysia’s performance in the first quarter of this year was better compared to Singapore (two per cent), Thailand (4.2 per cent) and Vietnam (4.4 per cent).-The Malaysia Insider (October 01, 2012)