Najib Razak To Announce Economic Policy Measures

January 20, 2015 –¬†Malaysia’s Prime Minister Najib Tun Razak is expected to announce specific and proactive measures to deal with the country’s current economic developments and financial situation.

Bernama news agency said the measures will also include strategies to help residents and business community affected by the recent floods, and to rebuild damaged infrastructure.

Although there is no economic crisis, it said the government is taking pre-emptive measures in view of the changing global economic landscape.

Najib, who is also Finance Minister, will also detail the positive and negative impact of falling crude oil prices. The recent 60 per cent fall in oil prices affects the global economy, and Malaysia is no exception.

When addressing the Prime Minister’s Department’s first monthly assembly for the year on Monday (Jan 19), Najib said an accurate and wise approach was necessary to mitigate the effects of the oil price slump on economic growth, national revenue and the value of the ringgit.

“Amid this new scenario, we will act more proactively to ensure a sustainable growth rate and protect the people’s rights so that their well-being is not adversely affected,” he added.

Najib is also expected to address the uncertainty in capital flows and the value of the ringgit, which has slipped to a five-and-half-year low of RM3.60 against the dollar.

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