Malaysia’s transformation ‘phenomenal’ under my leadership: Najib
KUALA LUMPUR — Malaysia’s transformation has been “phenomenal” over the past six years with sustained economic growth, increased investments, and a shrinking fiscal deficit, Prime Minister Najib Razak declared today (Oct 21).
Mr Najib, who took office in 2009, also pointed out that the World Economic Forum recently ranked Malaysia as the 18th most-competitive economy and the eighth-most efficient government in the world.
“We should not lose sight of what we have achieved in our transformation over the last six years. It has been nothing short of phenomenal,” Mr Najib said in his welcome address at the Global Transformation Forum here.
The prime minister noted that Malaysia’s economy grew year on year, and more than doubled investment over the past four years compared to preceding years while its fiscal deficit fell from 6.7 per cent in 2009 to 3.4 per cent last year.
“We’re likely to achieve a balanced budget, or as close to that as possible, by 2020,” he said.
Mr Najib said tough measures like removing fuel subsidies and implementing the Goods and Services Tax (GST) had to be undertaken in order to eventually achieve a balanced budget.
“Politically tough, politically unpopular, but the right thing to do, that has increased our tax base significantly,” he said, referring to the broad-based consumption tax that was enforced last April.
The prime minister also said the government’s national transformation programme has enabled Malaysia to make “significant strides” in other issues like rural development, urban transport, crime, infrastructure, social welfare programmes and entrepreneurship. MALAY MAIL ONLINE
KUALA LUMPUR — Malaysia’s transformation has been “phenomenal” over the past six years with sustained economic growth, increased investments, and a shrinking fiscal deficit, Prime Minister Najib Razak declared today (Oct 21).
Mr Najib, who took office in 2009, also pointed out that the World Economic Forum recently ranked Malaysia as the 18th most-competitive economy and the eighth-most efficient government in the world.
“We should not lose sight of what we have achieved in our transformation over the last six years. It has been nothing short of phenomenal,” Mr Najib said in his welcome address at the Global Transformation Forum here.
The prime minister noted that Malaysia’s economy grew year on year, and more than doubled investment over the past four years compared to preceding years while its fiscal deficit fell from 6.7 per cent in 2009 to 3.4 per cent last year.
“We’re likely to achieve a balanced budget, or as close to that as possible, by 2020,” he said.
Mr Najib said tough measures like removing fuel subsidies and implementing the Goods and Services Tax (GST) had to be undertaken in order to eventually achieve a balanced budget.
“Politically tough, politically unpopular, but the right thing to do, that has increased our tax base significantly,” he said, referring to the broad-based consumption tax that was enforced last April.
The prime minister also said the government’s national transformation programme has enabled Malaysia to make “significant strides” in other issues like rural development, urban transport, crime, infrastructure, social welfare programmes and entrepreneurship. MALAY MAIL ONLINE
