“'2011 Budget must account for slowdown'” |
| '2011 Budget must account for slowdown' Posted: 29 Sep 2010 02:31 AM PDT THE 2011 Budget should have elements that can tide over the probability of a turbulent global economy next year, says an economist. Datuk Dr Mahani Zainal Abidin, chief executive of the Institute of Strategic and International Studies (ISIS), said next year's budget was crucial as the world economy was expected to see a slowing down. "The government must be prepared to face such a difficult world economy," she told reporters on the sidelines of the CEOs Forum hosted by the Perdana Leadership Foundation. Mahani was responding to reporters' queries on the country's growth prospects next year. "Hence, we must be prepared for a more challenging economy because of the economic climate in America. We must make preparations on how we can stimulate the domestic economy if the external economy turns sluggish," she said. Other risks that could impede economic growth was foreign exchange, she said. "When the ringgit becomes stronger and the exchange rates of other countries are not as strong as the ringgit, this may slightly affect our exports," she said. Mahani said the 6.8 per cent growth rate as forecast by the Manila-based Asian Development Bank (ADB) was a conservative projection. "I think Malaysia will register six to seven per cent growth rate this year. So, Malaysia will record a higher growth from that projected by the ADB," she added. - BERNAMA This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
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