Najib: Economy’s performance will have ups and downs

  • Nation
  • Friday, 07 Oct 2016

PETALING JAYA: Malaysia’s economic performance is not determined by political factors alone, said Prime Minister Datuk Seri Najib Tun Razak (pic).

“The country’s economy, even the world economy, has its ups and downs,” he said in a speech shared on his website on Friday.

Najib was dismissing claims circulating on social networking and WhatsApp, which claimed Malaysia would go bankrupt in Sept this year.

He cited the case of 1998, when Malaysia faced a great financial crisis with negative economic growth, causing many business to close shop, the ringgit’s decline and retrenchment.

“Ten years later, the world was pressed by an economic crisis that also caused the country’s economy to depreciate,” said Najib.

As the Finance Minister at the time, Najib took proactive steps to craft economy stimulus programs, and economic growth bounced back at a rate of over 7% the following year.

“In 2015, we went through another economic challenge, where the country’s income shrunk by RM30bil due to plummeting oil prices.

“The fact is, the country’s economy kept growing at a rate of more than 4% in the first half of this year, and did not falter to a negative state such as in 1998,” he added.

Najib said it was “unfortunate” that some had spread defamatory statements alleging the country’s economic decline was solely due to political factors: “It is this Government that has successfully defended the country’s economic growth.”

He added: “Let us not be easily fooled with lies like these, for as Allah says: O ye who believe! If an ungodly person comes to you with any news, then research the truth of it, lest ye harm people with unwanted matters.”
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politics , economy , Najib Tun Razak , speech


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