PM: BRIGHT PROSPECTS FOR ECONOMY

Malaysia the only country whose GDP growth forecast was revised upwards 4 times in 16 months

THE country can look forward to a brighter economy with the World Bank revising upwards the country’s gross domestic product (GDP) four times over the last 16 months.

Prime Minister Datuk Seri Najib Razak said Malaysia was the only country whose forecast had been revised upwards four times within one year and four months, by the World Bank.

“This proves that the Barisan Nasional government manages the economy well towards becoming an advanced high-income nation.

“Malaysia has the qualities to become a successful country and this is proven through efforts like the early completion of the 52km Mass Rapid Transit, which was completed below the targeted cost.

“The East Coast Rail Line (ECRL), which will be completed in 2022, will pass through towns like Bentong, Kota Sas (in Kuantan) and Cherating.

“Although Pekan is not part of the ECRL route, but as it is near to Kuantan, the people here will enjoy spillover economic benefits.

“Recently, the World Bank revised the country’s GDP (to 5.4 per cent) and there is no other country, apart from Malaysia, that the World Bank has increased the revised estimate four times over the past one year and four months,” he said before the groundbreaking event to upgrade the trunk road between the town here and Kampung Sungai Miang yesterday.

On Thursday, the World Bank raised its forecast for Malaysia’s GDP growth to 5.4 per cent from 5.2 per cent previously.

The revision, the first for this year, is the fourth in a row following three upward revisions last year.

Najib, who is BN chairman, said the BN government would not only focus on boosting the country’s revenue, but also continue to uphold its principles and policy of sharing the nation’s wealth with the people.

“We adopt the concept where if the country’s income increases, we will share and distribute it among the people, especially those in the Bottom 40 and Middle 40 categories.

“When we announced the 2018 Budget, the world oil prices were trading around US$52 per barrel.

“Now that it has fetched around US$67 per barrel, the Goods and Services Tax and corporate tax have increased due to the improving economy.

“So, we have decided to share the wealth with the people.

“On April 7, I announced that the 1Malaysia People’s Aid will be increased by 100 per cent.

“Starting June and August, the amount will be increased from RM400 to RM800.

“We have introduced a new category for those earning between RM4,000 to RM5,000.”

He said the people should have faith in the current government, which fulfilled its promises and prioritised the people, instead of making empty pledges.