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Thursday, November 28, 2013

Govt bullish on higher Q4 growth

Publication: NST
Date of publication: Nov 27, 2013
Section heading: Business Times
Page number: 003
Byline / Author: By Roziana Hamsawi

KUALA LUMPUR: THE government is confident of achieving a gross domestic product (GDP) growth of more than five per cent in the fourth quarter, which will allow it to meet the target of between 4.5 and five per cent for 2013.

Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah said the five per cent GDP growth in the third quarter was among the highest in the world.

"We are will be meeting our target of 4.5 to five per cent growth for the full year because in the fourth quarter, what we will achieve may be higher than five per cent," he said after officiating at the Asean Wealth Management Summit 2013, here, yesterday.

Asked on Moody's changing its outlook for Malaysia's government bond and issuer ratings to "positive" from "stable", Ahmad Husni said this is its acknowledgement of the government's commitment to strengthen its fiscal position and the economy.

"They know how serious we are in this and that our capital expenditure is still at a low level," he said.

Ahmad Husni added that the move to reduce subsidies of petrol and sugar and the introduction of the goods and services tax (GST) in 2015 are just the few key indicators of the government's seriousness in raising its revenue.

He said tax incentives announced in the recent 2014 Budget for the private sector will also woo more investments in the country and that the spillover effects will benefit the rakyat.

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