Economy set to grow by 6% for final quarter

  • Nation
  • Thursday, 29 Nov 2007

KUALA LUMPUR: The national economy is poised to grow by more than 6% for the final quarter of the year, said Datuk Seri Abdullah Ahmad Badawi. 

The Prime Minister said he would ensure that the Gross Domestic Product (GDP) remained on course to grow by 6% over 2007. 

“This is important for our future as it will give us a better chance to achieve Vision 2020,” he said at the National Chamber of Commerce and Industry of Malaysia dinner at a hotel here last night. 

Abdullah, who is also Finance Minister, said the country was on a positive growth trajectory, as indicated by the third quarter 2007 GDP growth figures released yesterday. 

“The real GDP grew by 6.7% in the third quarter compared to 5.5% and 5.8% in the first and second quarters,” he said, adding that the third quarter growth was the highest quarterly growth achieved since 2004. 

“These are significant achievements but we must never rest on our laurels. Indications are that other economies in the region are outpacing us. Therefore, we must double our efforts,” he said. 

He cautioned that the economy was facing lots of challenges not only in terms of competition but also escalating crude oil prices.  

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