Thursday, October 20, 2011

Husni: 5% GDP growth achievable

KUALA LUMPUR: Malaysia can achieve the target of a minimum 5% Gross Domestic Product (GDP) growth for this year, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

He expressed confidence that the second half GDP growth, which needs to reach 5.6% to meet the full-year target, will be sufficient, supported
by resilient private consumption and strong investment.

"It will also be supported by accelerated public projects and sustained strong exports of commodities and resource-based manufactured goods," he said in
his opening address at the European Union-Malaysia Chamber of Commerce and Industry (EUMCCI) quarterly Economic Panel Discussion.

He said Malaysia has recovered well from the recent 2008 to 2009 crisis.

"Our growth momentum has since been sustainable. In the first half of this year, our GDP grew at 4.4 per cent," he said.

Ahmad Husni said Malaysia's total trade with Asean countries has increased dramatically.

"For the period 2005 to 2010, Malaysia's total trade value with Asean countries averaged at US$82 billion per annum.

"In the first full year the Asean Free Trade Area came into force, this number grew by 24 per cent to just above RM305 billion," he said. - Bernama

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