This year’s economic growth forecast can be achieved – Mustapa

PUTERI: The government is confident that the country’s economic growth forecast of between 6.0 and 7.5 per cent targeted for this year can be achieved if the Covid-19 situation takes a turn for the better.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said this was supported by several positive signs showing that the country’s economy was heading towards recovery.

“Regardless, we are confident of Bank Negara Malaysia’s (BNM) forecast of 6.0 to 7.5 per cent growth, as well as that of the International Monetary Fund (IMF) of 6.5 per cent, this year.

“There are (positive) signs, as in two weeks’ time, BNM will release the country’s first quarter economic growth rate.

“We are confident that the range of 6.0 to 7.5 percent, which depends on the COVID-19 situation, means if the situation is stable and (the infections are) reduced, we may be able to reach the upper end 7.5 per cent,” he told reporters here yesterday.

The good signs seen include rising exports and declining unemployment in February, industrial indices development, and increasing commodity prices, namely that of oil palm and world oil prices.