PM Najib: Record trade proves BN govt managing economy well

Opposition claims that the government has to borrow from the World Bank to distribute financial aid is false, says the prime minister.

SEREMBAN: The positive economic development, which resulted in the country’s total trade touching a record RM1.3 trillion last year, is proof that the Barisan Nasional (BN) government is managing the economy well.

Prime Minister Najib Tun Razak said Malaysia’s gross domestic product (GDP) was RM560 billion and total trade was double the value of GDP.

“Malaysia’s GDP-total trade ratio is among the highest in the world.

“When the economy grows, the revenue will also increase and because of this, when I unveiled the 2012 budget, I will be able to ease the burden of the rakyat,” he said at the ceremony to hand over affordable houses to the families in Kampung Abok and the presentation of the Bantuan Rakyat 1Malaysia (BR1M) vouchers for Rahang state constituency here today.

Also present were Najib’s wife, Rosmah Mansor, Menteri Besar Mohamad Hasan and wife Raja Salbiah Tunku Nujumudin, Works Minister Shaziman Abu Mansor and chairman of Syarikat Perumahan Negara Bhd (SPNB), Idris Haron.

Najib arrived here this morning for a day-long trip to Negri Sembilan.

Yesterday, International Trade and Industry Minister Mustapa Mohamed said Malaysia recorded its highest total trade of RM1.3 trillion last year, up 8.7% from 2010.

He said the World Competitiveness yearbook 2011 Report by the Institute for Management Development ranked Malaysia among the top five countries in terms of international trade after Singapore and Hong Kong, surpassing the US, Switzerland, Australia, Canada and UK.

Mustapa also projected a growth of between 5% and 6% for Malaysia’s total trade this year.

Najib reiterated that the government did not have to borrow from the World Bank or International Monetary Fund to distribute financial aid as alleged by the opposition.

“Thus the claims by the opposition is false, slander and a myth which should be rejected by Malaysians,” he said.

SPNB is responsible for building 150 units to resettle the residents affected by the building of the Seremban Middle Ring Road.

The RM19 million project to build the townhouses is expected to be completed in June.

- Bernama