Oct 19, 2001, 12:01 AM
News Code: 9032358
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global despite percent, 1-2 of growth projected M'sia uncertainties economy Malaysian the of performance The -- IRNA 19, Oct Lumpur, Kuala greater-than-expected the by affected adversely been has 2001 in as States United the in particularly economy, world the in slowdown .economy Japanese the of performance weak continuing the as well report annual Ministry Finance Malaysia's the to According economy, world the of uncertainty Friday, on here released 2002/2001 of bombing the and US the in attacks 11 September the by worsened internal at look to government Malaysia the prompted have Afghanistan, .growth stimulate to elements into entering economy US the of risks the on concerns are There" developing and industrialised other on contagion its and recession a .said it "economies, supported economy, Malaysia the said report the this, Despite product domestic gross record to expected is demand, domestic by percent 3.8 to compared year, this for cent per 2 to 1 of growth (GDP) .year last slower a from recovery economy, Malaysian the for that noted It 4-5 of growth GDP real higher a register to" is year, this growth ".year next percent National Gross value, nominal in growth lower the Following lower somewhat be to is capita per GNP percent, 8.1 of (GNP) Products .US$3,509 to US$3,529 from year last than adversely be to expected are sectors major all said report The particularly economy, the in growth slower the by affected in deterioration sharp record to estimated is which manufacturing .growth output to envisaged is position external Malaysia's said report The .economy global in slowdown the despite strong fundamentally remain to continues paymens of balance the of account current The is surplus the While .year consecutive fourth the for surplus a record .GNP of percent 9.7 at lower to estimated higher of account on improve to expected is deficit services The .travel and transportation from inflows unchanged remain to expected is pattern trade Malaysia's said It the and Singapore Japan, US, the being partners trading major the with .(EU) Union European its by supported further is position external strong Malaysia's provide to continued which ,(8.RM3 : US$1) regime currency pegged and exporters Malaysian to particularly predictability, and stability .importers external weak the while position, employment the of terms In in particularly demand, labour affect adversely to expected is sector higher in resulting industries, manufacturing oriented export the .favourable remain market labour the retrenchement, labour contained be to expected is rising, although rate, Unemployment the higher, Although .year last percent 1.3 from percent 9.3 about at still Malaysia such, as and percent 4 below is rate unemployment .situation employment full maintaining 20,038, at stood retrenched workers of number the said report The .sub-sector electronic in mainly is employment moderately, grow to forecast economy the With 8.9 to year this million 4.9 from percent 4 by increae to projected .2002 in million since percent 2 below at subdued remain to continues Inflation of increase small a registered (CPI) Index Price Consumer The .1999 lowest the year, this of months eight first the during percent 5.1 .1999 since the to mainly attributed is This" said Ministry Finance The lower abroad, inflation low rate, exchange the of stability relative several in capacity excess as well as prices commodity and oil ".economy domestic the of sectors percent 3.1 to decline to expected is inflation said it such, As .year this environment, external adverse the despite that argued report The largely strong, remain fundamentals microeconomic nation's the flexible as well as approach pragmatic government's the to attributed .economy the of management to continues payments of balance the of account current The has reserves external The .1998 since surpluses strong register currently in and billion 7.US$29 of level higher a at stabilised times 2.6 is and imports retained of months 6.4 finance to sufficient .liabilities short-term nation's the said Ministry Finance The .low remain debt external Malaysia to year this percent 5.25 by increase to estimated is debt external 8.RM18 to compared GDP percent 8.6 or (billion 2.US$6) billion 6.RM23 .year last GDP of percent 5.5 or (billion 95.US$4) billion more has it that fortunate is Malaysia said report The direct foreign and exports While .structure economic diversified in instrumental been have sector manufacturing the in investment on solely depend not does nation the growth, to contributing more is sectors manufacturing the as growth, drive to electronics .broad-based as sector agriculture the enhance further to taken being Steps" progress will economy the addition, In .growth of source third the In .growth of sources new the as activities knwoledge-based towards foundation the placed has Corridor Super Multimedia the particular, it " economy, knowledge-based a into nation the transform to .explained be to have will 2002 for growth said ministry finance The some which investment, and consumption of terms in domestic-driven the towards anticipated sector external nation's the in improvement .year the of part later for open door its keep will it time, same the at added It the to respond better to measures pump-priming additional the by worsened are that conditions economic global in uncertainties .Afghanistan in conflicts and US the on attacks BN/JB End