Thursday, February 4, 2016

“Najib Razak: Asia’s Worst Finance Minister 2016”.

Malaysia’s gross domestic product (GDP) grew from RM528 billion in 2009 to RM877 billion in 2015 through various initiatives under the Economic Transformation Programme (ETP) under Prime Minister and Finance Minister Datuk Seri Najib Razak’s leadership.

The economy expanded from 1.9% in 2009 to 6% in 2014 amid the global economic slowdown and other challenges.

The Ministry of Finance (MoF), in a statement today, took FinanceAsia e-magazine to task for its article titled “Najib Razak: Asia’s Worst Finance Minister 2016”.

The MoF said it was unethical for the e-magazine to make a judgment based on developments within 12 months.

It said on the contrary, Malaysia was expected to register a growth of between 4.5% and 5.5% in 2015, while its unemployment rate declined from 4.5% to 3% with 1.8 million new jobs created.
The per capita income increased from RM24,541 to RM33,572, while the fiscal deficit dropped from 6.7% to 3.2%.

“Despite uncertainty in the global economy, Malaysia is optimistic of attaining its GDP target of 4.5% this year.

“If Malaysia could register a 4.5% growth amid the economic slowdown, it would infer that Malaysia’s economy is still strong compared with other Asian countries.”

Questioning FinanceAsia’s motive in posting article which suggested that Malaysia was in the doldrums, the MoF said the report was callously released to improve its rating.

This is because in last year’s issue, the e-magazine ranked Najib in eighth spot among finance ministers of the Asia-Pacific region’s 12 largest economies, the MoF added.

“As Asia has 48 countries, does being in the 12th position make Najib the worst finance minister in the region?” – Bernama, February 3, 2016.

msn news 4/2/2016

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