Ipoh, north of Kuala Lumpur (The Star/ANN) - The unexpected growth of 5.4 per cent in gross domestic products (GDP) in the second quarter of the year is a confidence boost for Malaysia to perform better in the second half of 2012.
Second Finance Ministeri Ahmad Husni Hanadzlah said he was optimistic about the country's economic prospects in the third and fourth quarter of the year as there was an increase in domestic investments.
¿The investments, which are mostly done by the private sector, have contributed to the economy development,¿ he told reporters during his Hari Raya open house in Kampung Sungai Rokam here on Monday.
He also said that the oil rigs that had previously caused problem to crude oil production had begun operation.
¿The crude oil production in the country will benefit from good global oil prices,¿ he said.
He said the country's positive growth had proved that it had maintained a stable economy despite global economic downturn.
On a separate matter, Husni, who is also Tambun MP, said a government would need to take into consideration of projections across a 10-year period before tabling the national budget, before implementing populist policies like those promised by the opposition.
He said a government needed to understand that its sources of revenues were limited and the spending had to match the revenues generated.
¿Responsible leaders would have kept reality in mind. They cannot make sweet promises and dream for it to happen,¿ he said.