Several local experts provide govt input on economic growth - Mustapa

 

The government has several local economists as a support mechanism in managing the country's economic progress, said Minister in the Prime Minister's Department (Economy) Mustapa Mohamed.

Local corporate figures and related parties also provide services to the government, he said, adding that the government also obtains input from international experts.

This includes international representatives from the World Bank, the United Nations Development Business and the United Nations to help stabilise the national economy and ensure that our economic development plans are on the right track.

"Our country has international agencies such as the World Bank and the UN Office, as well as government agencies, private companies and universities to refer to," Mustapa told reporters when met in Kuala Lah, Gua Musang last night.

He said this following former finance minister Tengku Razaleigh Hamzah’s proposal that foreign economists be appointed to stop the ringgit from falling in value if the government is not capable of doing so.

Gua Musang MP Tengku Razaleigh Hamzah

Mustapa assured there is a sufficient number of economists in the country, yet the government is still trying to strengthen its development plans despite the economic pressure being felt at the global level.

Healthy trend

Until today the economic growth graph has shown a healthy trend despite the challenging economic conditions, he said.

"There are signs that the economy this year will have no problems in terms of growth. The unemployment rate used to be 5.3 percent but now it is at 3.7 percent, so generally, our economy is recovering.

"We are aware that the situation will be challenging, God willing we will continue to interact and hold engagement sessions with all parties," the minister added.

- Bernama