Economic growth may be reviewed

  • Business
  • Sunday, 04 May 2003

KUALA LUMPUR: Malaysia’s economic growth may be reviewed as the World Bank has recently cut down its regional forecast on East Asian economies following the Severe Acute Respiratory Syndrome (SARS) outbreak, Second Finance Minister Datuk Dr Jamaludin Mohd Jarjis said here yesterday. 

“We are studying this (the World Bank review),” he told a press conference after a dialogue with Umno Youth which lasted for more than an hour. 

The Government had earlier forecast a 4.5% growth for 2003 and 6.7% for 2004. 

Jamaludin said that some sectors, especially tourism, had been affected by SARS but local tourism could still be promoted and those concerned should take this opportunity to push for domestic tourism. 

He said there was no need to worry as SARS was not home-grown. 

On the rebuilding of Iraq, Jamaludin said Malaysia was among seven countries consulted in the earlier draft of the communique for the reconstruction of Iraq after the war during the International Monetary Fund meeting in Washington last month. 

Jamaludin, who attended the meeting, said that apart from Malaysia, the US, the UK, Russia, France, Germany and Japan were given the draft for consultation first before the communique was distributed to other members. 

He said this indicated the respect the IMF had for the country under the leadership of Prime Minister Datuk Seri Dr Mahathir Mohamad. 

This follows the reaffirmation by IMF that the Malaysian capital controls created to handle the 1997/98 financial crisis were accepted as a model of recovery, Jamaludin said. – Bernama 

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