ECONOMIC GROWTH MOMENTUM WILL CONTINUE WITH GDP EXPANDING AT 5.4 PCT, SAYS ABDULLAH

KUALA LUMPUR, Aug 29 (Bernama) -- The government is confident the current economic growth momentum will continue in 2009, with the prospect of the Gross Domestic Product (GDP) expanding at 5.4 percent, Prime Minister Abdullah Ahmad Badawi said.

The diversified and balanced fundamentals of the Malaysian economy have
contributed to higher flexibility and resilience to face the volatile global
economic environment, the prime minister said in the preface of the 2008/2009
Economic Report released by the Finance Ministry today.

Given this scenario, the GDP is expected to record a 5.7 percent growth in
2008, said Abdullah who is also Finance Minister.

Against the global volatile phenomenon in the financial market and higher
fuel, food and commodity prices, he said the Malaysian economy had succeeded in
sustaining a strong economic growth momentum.

In the first half of this year, the nation's economy grew at 6.7 percent,
he
said, inviting Malaysians to jointly strive to realise the national mission and
ensure a better future for the nation.

The prime minister said the government would continue to take measures to
enhance national economic resilience and to ease the people's burden, especially
low-income earners who were easily vulnerable to negative impacts of
inflationary pressures.

Abdullah said integrated efforts by the public and private sectors were
crucial to address the slow global economic growth risks, especially when the
economic slowdown was clearly evident in advanced nations.

"Hence, we must continue to focus on improving efficiency and productivity,
developing human capital and cost-cutting to remain competitive.

"A prudent and pragmatic policy, strong economic resilience and the
people's
determination in facing a challenging environment will enable the national
economy to expand progressively," he added.
-- BERNAMA