Najib:Ever Modest

On the sidelines of the Asean Summit, Najib modestly decline to  revise the country's GDP upwards to 7.7% as projected by JP Morgan. He said Malaysia will be contented to achieve the offciial  forecast between 4.5 to 5.5%.

JP Morgan has projected &.7% growth rate for Malaysia, revising its earlier forecast of 6.8%.They said that Malaysia's forecast is 'conservative'.

Najib did not discount the country’s chances of achieving higher growth than forecasted by the Government. but he stressed that it was more important to achieve the official forecast.

“We will look for mechanisms, from policy intervention to faster and more efficient delivery, to achieve the forecast that we have set,” he told Malaysian journalists in Hanoi.

The Prime Minister said the analyst’s revision of the forecast showed that it expected Malaysia to achieve a solid recovery from the global recession.“Maybe it is based on the first quarter indicators, such as the industrial production index, export and energy consumption,” he said.

Is JP Morgan taking a leap of faith here?

Well, we must see how the growth pans out in the next 9 months to  see whether JP Morgan is hyping it up or not.