Wahid: Malaysia can achieve 5-6 pct growth next year

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PUTRAJAYA: Malaysia can achieve economic growth of five per cent to six per cent next year despite falling crude oil prices, said Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar.

Abdul Wahid said the petrol subsidy removal effective Dec 1, 2014 and the Goods and Services Tax implementation from Apr 1, 2015, would further strengthen the government’s fiscal position.

“The target growth of between five per cent to six per cent is achieveable and according to a World Bank report, Malaysia’s economy is projected to grow by 5.7 per cent in 2014 and 4.7 per cent in 2015,”

Abdul Wahid said at the launch of the World Bank’s 11th Edition of the Malaysia Economic Monitor, December 2014: Towards a Middle Class Society’ here yesterday.

Also present were Country Director for South East Asia, East Asia and Pacific Region, Ulrich Zachau and World Bank Senior Country Economist for Malaysia, Frederico Gil
Sander.

Abdul Wahid said the government was on track to reduce its budget deficit to 3.5 per cent this year and meet its target of three per cent in 2015. — Bernama