Prime Minister Najib Tun Razak is expected to announce a new economic model for Malaysia by the end of February next year.

He said the new economic model will form the basis and direction of the country's economy in the future.

"It is a comprehensive model as it does not only cover the economy but encompasses all aspects of a nation's role.

NONE "I will table it in February next year after it gets the approval of the cabinet ministers," Najib said during the Media Night organised by the Finance Ministry in Putrajaya today.

Najib said he was given a briefing today by the members of the Economic Advisory Council on the framework of the new economic model.

"I have given my agreement in principle for the new economic model. I also wish to inform that the text will be prepared after this and it is expected to take a month to be ready.

"Once ready, it will be presented to the cabinet ministers for approval and subsequently according to plans, the country's new economic model will be announced at the end of February," he said.

Najib who is also finance minister said the 2010 Budget, government transformation programme and the new economic model will be the government's priorities in driving the country's economic agenda towards a more better, assured and a dynamic future.

Also present at the event were the Prime Minister's wife, Rosmah Mansor, Second Finance Minister Ahmad Husni Hanadzlah and Treasury secretary-general Dr Wan Abdul Aziz Wan Abdullah.

- Bernama