Barely hours to go before the central bank announces the official 3rd quarter economic results, Najib said the nation's economic slowed down slightly because of weaker demand from advanced economies.
“We can still maintain growth but the rate will be down a bit because of the external environment,” he told newsmen here.
He, however declined to reveal the 3rd quarter growth figure, only saying that Malaysia was still on track to exceed the official growth target of 6% annually.
“We will go beyond six percent for this year,” he said.
He said the country's manufacturing sector had been hit for the year because developed nations were not showing robust growth.
Najib however said the overall growth projections for this year have surpassed the set target.
Studying the SRIs
On the progress of the second phase of the National Economic Model (NEM), the prime minister said it would be unveiled soon.
"We want to make sure of the strategic reform initiatives (SRIs). They touched on major policy considerations, so they need to be studied very carefully so that once the report comes out, the government has to be comfortable with the recommendations (made)," he said.
"Although they are only recommendations and are not compulsory for the government to accept them, the report has to be in tandem with what is doable by the government."
"It is important that the SRIs are implemented because they are another important leg of the NEM," he said.
He pointed out that the Economic Transformation Programme (ETP) and the SRIs are the enablers for the NEM transformation.
"Eventhough the people are more focused on ETP projects, it is equally important that the SRIs are also implemented by the government," he added.
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