Malaysian Economy: Ahmad Husni responds to Anwar Ibrahim
February 27, 2010
Second Finance Minister Ahmad Husni on the Malaysian Economy
Malaysia’s recovery from the global economic crisis were fuelled by positive growth registered by various sectors and not solely due to the accelerated implementation of the RM67 billion economic stimulus package, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.
He said opposition claims that Malaysia’s 2009 “better than expected” fourth quarter economic performance was the direct result of the whopping RM67 billion stimulus package was totally baseless.
“The economic recovery in the United States and Europe also provided the advantage to Malaysia. While we did not reduce our exports to Europe, we also increased our exports to Asian countries.
“Previously, our country registered a trade deficit with China, but it was no longer the case now as within a two-year period, we have recorded a trade surplus,” he told reporters after launching the “Pintar MAS” programme at Sekolah Kebangsaan Manjoi Dua here today.
Ahmad Husni said the high growth rate recorded by several economic sectors provided the impetus for the country to recover from the economic crisis that plagued the world. For instance, he said, the manufacturing sector recorded a negative growth in the first, second and third consecutive quarters last year, but rebounded in the fourth quarter, with a positive growth.
“In the first quarter, the sector registered -17.9 per cent growth, second quarter -14.5 per cent, third quarter -8.6 per cent and in the fourth quarter +5.3 per cent. All these contributed to the nation’s economic growth,” he added.
Prime Minister Datuk Seri Najib Razak, when announcing the 2009 fourth quarter economic performance on Wednesday, said the worst was over for the country.
The 4.5 per cent economic growth registered in the fourth quarter of last year was beyond expectation, amid strengthened domestic and external demand, said Najib, who is also finance minister. For the year 2009, the economy contracted by 1.7 per cent, lower than the -3 per cent projected earlier, he added.
” Kalau harta bekas perdana menteri thailand , Thaksin Shinawatra yang di perolehi secara haram di zaman pemerintahannya boleh di ambil tindakan oleh Kerajaan Thailand sekarang , kenapa tidak di Malaysia suatu hari nanti .” – myzaidibrahim.wordpress.com
sermonfortheday - February 27, 2010 at 8:28 pm
If i may ask: With what, was the last quarterly figure compared with? The last quarter of 2008, when we already in deep sh*t.
Celebrity chefs’!
Menyalak-er - February 27, 2010 at 8:47 pm
From the ashes of the fabled “cry wolf” comes little boy Husni acalling again ! Who now can believe Najib & his Gang of spinners/Liars ? if not those so-called highly mis-paid UMNO Bloggers & those parasites now hunched and hanging on in Putrajaya ? Husni & gang cannot engage in intelligent dialogue nor debate except to cry out menacingly and engage in fraud at every turn. Look at our Hambug Judiciary , our crooked Police Chief , our evil Public Prosecutors , our hyper corrupted UMNO/BN assemblymen and those gaji buta cabinet ministers cum KPI senators ! what do they do each day , except line up their pockets especially now when Najib is totally facebook lost ?
thebaDderMan - February 27, 2010 at 8:51 pm
Menyalak-er, the government is desperate for good news on the economic front and will grab even a straw of good news to boost our morale.
Both Greece and Spain in the Euro Zone are having economic difficulties, requiring assistance from the strong economies of Germany, France and others, and their economic problems could undermine the euro currency and the EU Project. The United States itself is still not out of the woods. President Obama is not making statements that will give Americans false hopes.
So we would be well advised to be cautious in our pronouncements about the state of our economy. We may be out of a technical recession, but it is my view that our economy is still weak. Let us see what the first Q 2010 picture will be like.–Din Merican
dinobeano - February 27, 2010 at 9:00 pm
Yep Din, it’s all in the air right now. PIIGS (Portugal, Ireland, Italy Greece and Spain) are still not out of the woods and Greece’s economy is crumbling. PRC is to raise their interest rates soon and trying to take cover and Japan is still in doldrums.
I just wish that people would stop looking at our micro-environment and really see the big picture.
A hypothetical question to D.S. Husni: If the fiscal stimulus did not help, where did it all go to?
Can we have a parlimentary commitee/caucus/oversight to review MIDA’s and other disbursement agencies activities on how this whopping RM 67 billion was ‘eaten’ up?
Menyalak-er - February 27, 2010 at 10:06 pm
Menyalak-er, i don’t think he said stimulus didn’t helped at all. “Malaysia’s recovery… not solely due to the accelerated implementation of the RM67 billion economic stimulus package.”
I do agree that a review should be done on the RM67 Bill… Personally, I think DS Najib has so far performed his duty way better than Pak Lah but of course no where near Tun M. Tun M is on a different level. The only thing I don’t understand is, why 1Malaysia has to be used in almost everything.
_________
Any average Joe can do better than Badawi. Najib has yet to show what he can do with the economy. More action required to restore confidence and public trust.–Din Merican
Juan Hardiez - February 28, 2010 at 4:41 am
politics is the art of who people would vote for.certainly not husni.
picojayboy - February 28, 2010 at 8:11 am
Menyalak-er,
Ireland and Portugal, yes. Ireland was the darling of investors in the 1990s. Uncontrolled fiscal spending is the root of economic evil. It will come back to haunt you.
Politicians do not care because they want to look good when they are in power. The problems they create from their profligate spending is for the next government to deal with. We the people suffer.—Din Merican
dinobeano - February 28, 2010 at 8:59 am
It’s a sandiwara right from the word “go”. I no longer believe whatever these Umno goons say or do these days. Just be prepared for the consequences to come.
Tok Cik - February 28, 2010 at 9:41 am
Even if the figure is true, not that I’m saying it is, how many of us would believe it after all the lies they have been feeding us? Remember just a few months back when Jibby said that it was more than than 10%? The BN doesn’t even know it when they are so obviously off the mark. Shows what a bunch of damn fools are running the country. The economy could probably do better if they throw all the money under the “stimulus package” from the Petronas towers to the people below. Al least we know Malaysians who pick them up would spend it wisely and many small businesses will survive for another day.
imwatchingu - February 28, 2010 at 9:42 am
If Nazri and his missing team could go on a road show in Washington DC and spent RM4 million to “impress” a think-tank about our system of governance you can imagine what tricks these Umno goons can do right under our noses. You need not go far just go to the streets and see what the business community has to say about the economy. The pasar malam traders know more than Husni, Nor Mohammad and Jibby put together. Ask the mak ciks, aunties and amahs where their next meal is coming from. Figures and statistics can be massaged and manipulated to confuse the rakyat. But can they fool us all the time?
Tok Cik - February 28, 2010 at 12:05 pm
True, Tok Cik. There is STAGFLATION even if they deny it. The cost of ‘living’ is rising exponentially. Nowadays, even the ‘sabun’, syampu and pembancur mulut oso naik harga +++, not to mention sawi, kangkong etc. I betcha these flurs don’t realize it ‘cos they never mandi, mulut terbusuk and only makan steak mah…
You can guess how they define their basket of ‘essential goods’ – mix and match, sesuka hati.
For a start, I think, instead of subsidizing petrol/gas and sugar, they should lower tarrif rates for all cars, improve public transport and buy up all the tolls. Less burning of fuel at ridiculously jammed toll gates and much less obesity and diabetes.
Menyalak-er - February 28, 2010 at 2:09 pm
Tok Cik is not interested in stagflation. He is interested in stag party when Sharizat is out of town.
Mr Bean - March 1, 2010 at 11:04 am
Din,
I am wondering what’s Salehudin Husin up to? It seems he’s pulling away these kakis away. Is Salehudin Husin, the Mole?
looes74 - March 1, 2010 at 3:47 pm