Malaysia misses growth target<\/p>\n
Agence France-Presse, Kuala Lumpur<\/p>\n
Prime Minister Mahathir Mohamad Sunday said Malaysia would
\npost modest economic growth of 0.5 to 1.0 percent in 2001, down
\nfrom earlier projections of 1.0 to 2.0 percent.<\/p>\n
\"Maybe one percent. Of course this is very difficult. Maybe
\nhalf a percent for this year.<\/p>\n
\"Next year will be better,\" Mahathir, who is also the finance
\nminister told reporters at his residence in Putrajaya, just south
\nof the capital Kuala Lumpur.<\/p>\n
Mahathir said he hoped domestic consumption would fuel much-
\nneeded economic growth.<\/p>\n
\"We are a trading nation and if the world is not doing well
\nobviously they cannot buy any of the things we produce.<\/p>\n
\"But we are generating economic growth through domestic
\nactivities and we can see that the retail business is very good,\"
\nhe added.<\/p>\n
Mahathir said Malaysia's economy was \"as well as it can be\"
\nconsidering that the world was going through a bad period.<\/p>\n
Economists have said Malaysia can still avoid a recession this
\nyear despite a worse-than-expected contraction in the September
\nquarter.<\/p>\n
The government last month cut its growth forecast for this
\nyear for a second time to 1.0-2.0 percent, and has imposed a
\nrange of fiscal measures to boost consumer spending.<\/p>\n
Malaysia last plunged into recession in 1998 amid the Asian
\nfinancial crisis, but it rebounded the following year and
\nrecorded a heady 8.5 percent growth last year.<\/p>\n
Mahathir said the Malaysian economy was showing some signs of
\nrecovery from the initial shock of the Sept. 11 terrorist attacks
\non the U.S. and that people would start traveling again.<\/p>\n
\"I believe in one or two months people will be traveling,
\nmaybe not in the same numbers as previously but sufficient to
\ncontribute to our economic growth,\" he said.<\/p>\n
When asked about remarks by opposition leaders that he would
\ncall a snap election, Mahathir said: \"We take election very
\nseriously. We just don't call for election because we are in a
\nposition to win.\"<\/p>\n
Asked if there was a possibility of an election in 2002 or
\n2003, he said: \"I don't know. It depends. I wouldn't know.\"<\/p>\n
A poll is not due until 2004.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/malaysia-misses-growth-target-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }