IPOH, Aug 20 — Malaysia’s economy will register a healthy growth in the third and fourth quarters following strong private sector investment and higher crude oil production, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah (picture) said today.
Expressing his optimism, he said, the 5.4 per gross domestic product growth posted in the second quarter vis-a-vis 4.9 per cent in the first quarter bore testimony to the country’s sound economic status.
“(Actually), we cannot predict the GDP performance in the third and fourth quarters, but I’m optimistic of a healthy showing because we have strong macro fundamentals, aided by public and private investments,” he told reporters at his Hari Raya open house here.
Ahmad Husni is also confident that crude oil production would continue to increase, thus helping the country tide over with the global economic crisis.
“The factor that affected our country’s economic growth last year is crude oil production, among others.
“Crude oil production has increased in the second quarter and I believe oil production will continue to increase,” he said.
Ahmad Husni said the world, particularly European and several Asian countries, was facing economic crisis, thus making exports to those countries difficult.
“European countries, particularly five countries facing a crisis, have affected Malaysia’s exports. Exports to Greece, Ireland, Italy, Portugal and Spain have dwindled by 1.5 per cent,” he said.
The majority of the advanced nations only registered a dismal 0 to one per cent economic growth, he added. — Bernama