PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today tasked the Finance Ministry with facilitating the execution of programmes by other ministries meant to benefit the people.
Najib, who is also Finance Minister, said he wants the ministry to help all operating ministries so that they do not face constraints in executing projects for the rakyat.
“I have declared 2017 as the ‘year of delivery’.
As the ministry and central agency responsible in managing the country’s finances, we must facilitate the operations of ministries in this.
“The two common excuses given (by) ministries (when unable to execute programmes is that they) have yet to get their allocation, or (there is) insufficient budget to execute their projects.
We must look into this seriously,” he said at the Finance Ministry’s morning gathering.
On another matter, Najib pointed out that major connectivity and infrastructure projects are being implemented to stimulate Malaysia’s economy and create high-paying jobs.
“It is (not being done) to brag about them,” he said, listing down several of such initiatives, including the High Speed Rail, the Pan Borneo Highway and the East Coast Rail Link projects.
Najib said studies have indicated that better and efficient road systems, which do away with road congestion issues, could increase gross domestic product growth by two per cent.
Efficient and affordable public transport services could also help reduce the cost of living, he said.
Najib said the world economy is expected to do better this year, with 3.4 per cent growth compared to 3.1 per cent in 2016.
He said global trade this year is expected to increase by 3.8 percent, compared with 2.3 per cent last year.
“However, several risks remain, including the global financial markets, which are increasingly volatile; and slower growth in developed countries and some developing countries like China.
“Malaysia is also facing some domestic risks, including a shrinking current account surplus, depreciation of the ringgit, increase in household debt to growth domestic product, as well as the rising cost of living,” he said.
Nevertheless, the Prime Minister is confident that the economic outlook for Malaysia’s growth of between 4.5 and 5 per cent this year is achievable.
He said this is based on the country’s strong economic fundamentals and prudent fiscal policy.-nst
