Gov't doesn't need Plan B for growth
The government does not need a contingency plan to bolster growth even if the global economy weakens, the economic planning minister was quoted today as saying by the Edge newspaper.
The government does not need a contingency plan to bolster growth even if the global economy weakens, the economic planning minister was quoted today as saying by the Edge newspaper.
The government can adjust its Economic Transformation Programme, a blueprint to attract $444 billion in investments over 10 years, to respond to any external headwinds, Nor Mohamed Yakcop said.
"Even in the worst case scenario, if things go very bad, we already have an in-built system that can adjust itself," Nor Mohamed was quoted as saying by the paper.
"There is no need for a discreet policy or Plan B. As long as India and China can clock in growth rates of above 7 percent, we should be alright."
Malaysia has forecast economic growth of 5-6 percent in 2012, an estimate that many analysts think is too bullish given the economy's reliance on exports to fuel growth.
Exports accounted for about 89 percent of the Malaysian economy last year.
- Reuters
Related stories
Audit report to be tabled on Monday?
Audit report delay: PM must come clean
Think-tank: RM1 trillion debt by 2020 a possibility
Minister: Limited tender for Tanjung Bin power plant
