22nd August, 2012
BACHOK: Bank Negara Malaysia (BNM) is targeting an annual Gross Domestic Growth of between four and five per cent for three consecutive years beginning next year.
Deputy Finance Minister Senator Datuk Dr Awang Adek said the consistent annual growth was vital in order for the nation to realise the Vision 2020 status.
“We are confident of achieving the target based on the 5.4 per cent Gross Domestic Product (GDP) growth announced for the second quarter,” he told reporters after hosting a Hari Raya open house at his residence.
Awang Adek also said the 2013 Budget, which would be presented in Parliament on Sept 28 by the Prime Minister, would be focused in this direction.
He added that the Budget would also address ways to cushion the impact of global uncertainties on the Malaysian economy.
On claims by several quarters that the 2014 Budget would be an election budget, he said that it was not true.
Awang Adek said the Budget was to determine the direction of the economy for next year while the election date was not yet fixed.