ID :
25531
Mon, 10/20/2008 - 09:40
Auther :
Shortlink :
https://www.oananews.org//node/25531
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MALAYSIA WON'T FACE ECONOMIC DEPRESSION - M'SIAN DPM
PEKAN (Malaysia), Oct 20 (Bernama) -- Najib Tun Razak said Sunday he was confident that Malaysia will not face an economic depression following the economic crisis faced by the United States and European countries currently.
The Deputy Prime Minister said that as the Finance Minister, he would
announce several measures to cushion off the effects of the world financial
crisis tomorrow.
"There is certainly an impact (on the country due to the world financial
crisis), but we can still hold on, and Malaysia is not expected to be dragged
into the economic slowdown. From the early stage, our study showed that we will
achieve five per cent (economic growth) this year. Next year, although we have
to face a slight reduction in the economic growth, we are not expected to be
dragged down by the economic slowdown, InsyaAllah," he said when met by
reporters at his Hari Raya open house at Dataran Pekan, here Sunday.
Pekan is the royal town of east coast Pahang state, Malaysia
"My announcement tomorrow (Monday) will touch on several measures that are
being taken, for example, by Malaysian Central Bank and several proposals to be
made by the government to reduce the impact of the world financial crisis.
However, I will announce several other aspects during the winding up session (in
Parliament).
"As the market situation is very volatile, we need a little more time,
for
example, to determine the 2009 economic growth projection. The Malaysian central
Bank, Treasury and EPU (Economic Planning Unit) need more time to study in
greater detail because the world market is very volatile and it's difficult to
make a projection.
"Monday I will not announce a complete package but several additional
measures that the government can implement, including the latest status in
efforts by the Malaysian Central Bank to assist the domestic financial market,"
he said.
Najib said the government would announce specific measures from time to
time or in stages depending on the world market situation.
He stressed that the measures that would be taken by the government might
be different from those taken in the past when facing the financial crisis.
-- BERNAMA
The Deputy Prime Minister said that as the Finance Minister, he would
announce several measures to cushion off the effects of the world financial
crisis tomorrow.
"There is certainly an impact (on the country due to the world financial
crisis), but we can still hold on, and Malaysia is not expected to be dragged
into the economic slowdown. From the early stage, our study showed that we will
achieve five per cent (economic growth) this year. Next year, although we have
to face a slight reduction in the economic growth, we are not expected to be
dragged down by the economic slowdown, InsyaAllah," he said when met by
reporters at his Hari Raya open house at Dataran Pekan, here Sunday.
Pekan is the royal town of east coast Pahang state, Malaysia
"My announcement tomorrow (Monday) will touch on several measures that are
being taken, for example, by Malaysian Central Bank and several proposals to be
made by the government to reduce the impact of the world financial crisis.
However, I will announce several other aspects during the winding up session (in
Parliament).
"As the market situation is very volatile, we need a little more time,
for
example, to determine the 2009 economic growth projection. The Malaysian central
Bank, Treasury and EPU (Economic Planning Unit) need more time to study in
greater detail because the world market is very volatile and it's difficult to
make a projection.
"Monday I will not announce a complete package but several additional
measures that the government can implement, including the latest status in
efforts by the Malaysian Central Bank to assist the domestic financial market,"
he said.
Najib said the government would announce specific measures from time to
time or in stages depending on the world market situation.
He stressed that the measures that would be taken by the government might
be different from those taken in the past when facing the financial crisis.
-- BERNAMA
