He said the world economic recession created by the United States (US) today was not only felt by Malaysia but the other countries in the world as well and it could not be ascertained when the problem would end.
“The year 2009 is not an easy year, I’m not certain what lies ahead. This year will certainly be challenging economicaly and politically for us,” he said when speaking at a dinner with community leaders at the Banquet Hall at the State Legislative Assembly Complex, here tonight.
He said, however, Malaysia was still fortunate as it could still take on the challenges although the national economic growth was lower in 2008 with an initial projection of 3.5 per cent.
Najib said Malaysians should not be ashamed because compared to other countries, the figure was still high as a neighbouring country which had projected a five-percent growth could only achieve a growth of two per cent last year.
Najib said the government would ensure that the RM7 billion economic stimulus package announced earlier could be utilised especially for housing projects, the hardcore poor development projects, rural and village roads, and other development projects.
“The RM7 billion package must be spent so that the gross domestic product (GDP) could reach 3.5 per cent this year,” he said.
He pointed out that the economic factor also had an impact on political stability not only in Malaysia but also the other countries in the world.
He said that Malaysia, under the Barisan Nasional (BN) government, was still able to maintain its record as the strongest government because it had managed to uphold the country’s administration for more than 50 years.
Najib said the BN had many agendas to bring changes and transformation to the country and these agendas could not be achieved by changing the existing government.
Meanwhile, Chief Minister Tan Sri Abdul Taib Mahmud said although the global economic slowdown was expected to have an impact on Malaysia’s economy, it would not affect the overall industrial sector.
He said the heavy industry needed for the Sarawak Corridor of Renewable Energy (SCORE) could still attract the interest of foreign investors.
Source : Bernama