BUTTERWORTH: The government is more prudent in its spending and continues to rationalise allocation for the people, said Deputy Foreign Affairs Minister Datuk Seri Reezal Merican Naina Merican today.
Speaking to reporters at the Anugerah Pelajar Cemerlang 2015 programme at SM Datuk Kailan in Kepala Batas, the Umno supreme council member, who was referring to the recently tabled revised 2016 Budget, said Malaysia’s economy had recorded a contraction 2.5 per cent in 1997, which led to inflation.
In assuring that the economy was much more stable now, Reezal said foreign direct investments (FDI), especially from China and Arab countries, were pouring into Malaysia.
He urged the people to stay united.
“Initially, we thought the government would implement downsizing in the revised budget, but when Prime minister Datuk Seri Najib Razak announced the allocations for the public, it sees more growth for a stabilised economy.
“In 1997 and 1998, Malaysia experienced an economic downturn, which affected growth by -2.5 per cent, which led to layoffs and rising inflation.
“When there is no growth, what is there to distribute?
“Nevertheless, the recent budget showed a more stabilised economy and growth, which saw various allocations to be distributed to multiple sectors in the country.”
Reezal said no government workers were retrenched, MyBrain scholarships for postgraduate studies continued and the 1Malaysia People’s Aid (BR1M) was not suspended, showing that the country’s economy was strong.
“The government is resolute in ensuring that the people receive their benefits through a stable economy.”
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