Govt optimistic over GDP growth of 5.5% for next year

Posted on 21 November 2013 - 05:57pm

Last updated on 21 November 2013 - 07:15pm

KUALA LUMPUR (Nov 21, 2013): The government is optimistic over Malaysia notching a Gross Domestic Product (GDP) growth of 5.5% next year, driven by strong economic fundamentals and the many projects to further strengthen the economy.

Deputy Finance Minister Datuk Ahmad Maslan said the Malaysian economy is on track to achieve the full-year growth target of between 4.5% and 5.0% for 2013.

He said this at a media briefing here today on the one-day seminar on national economic empowerment, on Nov 24.

Ahmad said the seminar will cover three major agenda of the national economy, namely, the Budget 2014, economic empowerment of Bumiputera's and the Goods and Services Tax (GST).

It is being organised by the government following the announcement on the implementation of the GST on April 1, 2015.

The minister expressed confidence that through the seminar, 75% of Malaysians will understand the need and importance of implementing the GST.

The seminar will see 3,000 participants from among the political fraternity, community leaders, non-governmental organisations, government agencies and youths.

Similar seminars will also be held in other states such as Kelantan, Penang, and Selangor from mid-December to early February 2014.

"Experts will share insights on how to master the GST concepts and discuss opportunities, processes, challenges, as well as critical issues that can impact a business," Ahmad said. – Bernama