Despite the challenging global economic conditions, the Malaysian economy has persevered and remained resilient.
Things are getting better right now and outlook is bright.
Economy getting stronger, GDP revised upwards
Due to the stellar Malaysian economy, the gross domestic product or GDP growth has been revised upwards.
Prime Minister Datuk Seri Najib said on September 19, the Asian Development Bank has revised upwards Malaysia’s economy to grow to 5.4 percent in 2017 from an earlier forecast of 4.7 percent.
Najib also noted that the World Bank had recently revised upwards its prediction for Malaysia’s growth this year in 2017 to 4.9 per cent, adding that the a figure which would be the envy of many advanced economies.
This is such good news for the rakyat as things are getting better for the country and the economy.
Ringgit strengthening and will continue to strengthen
The ringgit is expected to strengthen to RM4.00 against the US dollar by end of 2018.
This is due to no small measure by Datuk Seri Najib.
Datuk Seri Najib’s leadership and good management of the economy has gained the confidence of international investors.
That is why the ringgit is getting better and better.
Stable political outlook
Malaysia’s political outlook is also stable especially in Barisan Nasional.
Component parties are getting along well and every party is united under Datuk Seri Najib’s leadership.
The opposition on the other hand is in disarray.
Every day we hear news of party members leaving the opposition such as from Parti Pribumi Bersatu Malaysia, PKR and PAS.
But Barisan Nasional remains strong and is expected to remain solid until the upcoming general elections.
Improving financial position
The Malaysian economy has remained strong due to its improving financial position.
This is due to the government’s prudent economic measures.
This include saving, not spending unnecessarily and avoid wastage
Due to these efforts, the economy is getting better and stronger thanks to the government’s prudent efforts.
Oil prices improving
Despite its fluctuations, oil prices has slowly but surely gained strength over the past one year to hover at between US$40 a barrel from a low of US$30 a barrel a year ago.
Although we are not out of the woods just yet, Malaysia is much much better compared to one year ago.
Petronas is also doing better and profitability is slowly returning.
Due to the improving oil prices, our economy is also rebounding.
GST has improved the economic sentiment
International investors and economists have long approved Malaysia’s goods and services tax.
That is why, ever since the GST was introduced in April 2015, the Malaysian economy has remained strong and resilient.
This is because the GST is a systematic tax system which eliminates any leakages.
Kudos to the government for introducing the GST at the most crucial moment.
Malaysian economy will be number 24 in the world by 2050
PricewaterhouseCooper’s latest report on the World in 2050 predicted that Malaysia’s GDP will be the 24th highest in the world.
This is due to the hard work of the government and of course the rakyat to ensure that Malaysia continue to be among the world’s top economies.
Economy is good due tot he Economic Transformation Programme
The economy is doing well due to the government’s Economic Transformation Programme which was formulated to create economic opportunities worth RM1.3 trillion and to lift Malaysia to high income status by 2020.
This will create 3.3 million additional jobs and attract US$ 444 billion worth of investments.
So the economy is doing well due to the careful planning of the government.
Malaysian economy is good due to our careful planning
The Malaysian economy is doing well as our leaders have planned and charted the future direction of the rakyat and the country.
Malaysia had launched the Transformasi National 2050 (TN50) to plan for the future between 2020 and 2050.
And by 2050, Malaysia will be one of the top 20 countries in the world in terms of economic development, rakyat’s wellbeing and innovation.
That is why the Malaysian economy is doing well now and should sustain in the next few decades.
Ignore the naysayers, the pessimists and the brickbats
Datuk Seri Najib has urged everyone to ignore naysayers who only have negative remarks about Malaysia’s economy.
Such sceptics have their own political agendas and their views did not gel with the glowing reviews from third parties like the World Bank and PricewaterhouseCooper about the country’s economy.
The rakyat should not listen to the naysayers who keep running down their own country for their own political agenda.
The evidence is clear as Malaysia is on the right trajectory, and this is shown by the fact that Malaysia is welcomed as a trading partner around the world such as the United States, China, Saudi Arabia and India.