BUTTERWORTH (Dec 4, 2012): It is possible for Malaysia to achieve an economic growth of 5% by the end of 2012, Finance Minister II Datuk Seri Ahmad Husni Mohamad Hanadzlah said.
He expressed hope that the country’s Gross Domestic Product (GDP) for the fourth quarter of 2012 to be at least 4.1% for the economic growth for next year to be at 5%.
“We know that this year’s projected economic growth is between 4.5% and 5.7%; and in the third quarter of the year, it was at 5.2%,” he said.
“We are on the right path.”
Ahmad Husni added that it is possible for Malaysia to hit an economic growth of 5% as the Eurozone recovery from the economic crisis is very slow, and it is affecting other parts of the world like China.
“Our financial position is on track – we have achieved an operating surplus of more than RM4 billion, while our deficit at about 4.5% for this year, which will be reduced to 4% next year, and debt-to-GDP ratio of 53%,” he told reporters during a press conference after officiating the RM50 million Customs Complex in Seberang Jaya today.
Also present were Malaysian Customs Director-General Datuk Seri Khazali Ahmad and Penang Customs Director Datuk Zulkifli Yahya.
Ahmad Husni also said that the ministry is looking into creating a future for Malaysians using two indexes – growth index and happiness index.
“Through the growth index, we want our per capita income to be more than USD15,000 by 2020, and we can achieve it before 2020 if our growth is continuously stable,” he said.
He also pointed out that the happiness index is crucial because although many countries have achieved high growth, but their happiness index is low.
“Firstly, the government will want to ensure that both urban and rural areas to achieve an income growth which allows them to spend and cover their daily living expenditure.
“That is why the Federal Government is carrying out the urban and rural transformation programmes through Urban Transformation Centre and Rural Transformation Centres around the country,” he said.
Ahmad Husni added that since this is an on-going process, the ministry has set up a unit to look into the progress and execution of the programmes nationwide.
Bernard Cheah
