Friday February 29, 2008

Nor Mohamed: Economy to grow by 6%

BUTTERWORTH: The country’s economy will likely grow by 6%-6.5% this year, if the 7.3% spurt in the last quarter of 2007 is any indication. 

“The economic momentum for last year was excellent,” Second Finance Minister Tan Sri Nor Mohamed Yakcop said during a visit to SRJK (C) Lee Hwa yesterday.  

“It started off with growth of 4.45% between January and March and ended on a high note. We managed to pull through with flying colours in a very tight and difficult international economic condition.” 

Nor Mohamed who was on the campaign trail to capture the Tasek Gelugor parliamentary seat said the figures showed that the Government had taken the right steps to put the country on a strong economic foundation, and capping the inflation rate at 2%. 

He said domestic investment rose 10.2% last year compared with 7.9% in the previous year.  

(Source: The Star Online, 2008)