Tuesday July 8, 2008

PM: Political stability will soon be restored

PUTRAJAYA: Malaysia’s economy can hit the 5% growth target this year as the fundamentals are strong, Prime Minister Datuk Seri Abdullah Ahmad Badawi said.

He also said that the authorities were committed to ensuring businesses could run smoothly.

“I think 5% is achievable,” he said in an interview yesterday.

“We have to manage, reduce the negative impact. Next year we will see what happens, because a lot of things are happening so fast, the volatility of the world economy is very high,” he said.

Abdullah, who is also Finance Minister, said political stability would soon be restored.

“It will stabilise. If we work hard, soon it will stabilise. If we don’t work hard for it, then of course anything can happen. All of us have to cooperate,” he said.

Abdullah, who has had calls for him to step down following the poor showing of the Barisan Nasional in the recent general election, said he was ready to take action to stamp out political instability but declined to say what he might do.

“If we think it’s necessary, at the right time, why not?” Abdullah said, when asked if he was prepared to crack the whip.

“It will be irresponsible not to use that,” he said.

Abdullah pledged to continue with business-friendly policies.

“We will continue to take whatever measures necessary to ensure that the investment climate in Malaysia will continue to be favourable,” he said. – Reuters