SHAH ALAM: Malaysia’s economic growth is double of that registered by the global economic growth since 2010.Prime Minister Datuk Seri Najib Razak said this could be seen since 2010, when Malaysia’s average Gross Domestic Product growth was at 5.1 percent.
“In fact, this figure is double to the average growth rate of the global economy,” he said in his speech at the presentation of the 2016 National Transformation Programme, here tonight.
Najib said that despite 2016 being a challenging year, the government’s commitment to the National Transformation Programme has ensured that the country’s economic fundamentals remained firm.
“The proof, Malaysia is among the earliest countries to benefit from the global economic recovery,” he said.
Najib said the Barisan Nasional government had taken many bold actions, and many tough decisions, to achieve Malaysia’s goal of becoming a high income advanced economy.
“The measures taken include removal of fuel subsidies, reducing dependence on oil revenue, rationalising subsidies, and the introduction of GST – are now, delivering huge dividends to the people and the country.”
Najib said the result of this measures taken has seen Malaysia’s economic growth extend outside the expectations of the government or the World Bank, which is 5.6 per cent in the first quarter of 2017.