4.8pct GDP growth in 2020 achievable, says Finance Ministry

Deputy Finance Minister Datuk Amiruddin Hamzah said the United States -China trade war, the unrest in Hong Kong and Brexit had lowered investors’ confidence to invest in developing countries, hence impacting the regional economies.

“We also welcome foreign investments, especially from developed economies such as China, the US, Japan and South Korea,” he said Tuesday on the Bicara Naratif programme produced by RTM when talking about MoF’s achievements in 2019. “Cooperation received from agencies and state governments have also helped to facilitate and speed up approvals, therefore providing a good economic impact and creating job opportunities for Malaysians,” he said.

“The debts that we took were in order to implement national development projects, not for operational matters such as paying salaries. For the time being, the Federal Government debt-to-GDP ratio is still below 55 per cent.

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