Special Economic Committee predicts growth despite plaguing issues

by **Cals** Tue 01 Sep 2015, 18:57

Special Economic Committee predicts growth despite plaguing issues

(Sept 1): Malaysia's growth in 2015 will continue at between 4.5% and 5.5% despite several several issues plaguing the country now, the newly set up Special Economic Committee said in Putrajaya today after meeting for the first time.
The committee, which was set up by Datuk Seri Najib Razak in a bid to tackle concerns regarding the freefall of the the ringgit and falling commodity prices, said that it will make the necessary proposals to the prime minister, who will have a final say on the proposals.
But they refused to delve into specifics on the proposals they would be making.
The committee's chairman, Datuk Seri Abdul Wahid Omar, met with the other nine members of the committee in Putrajaya today, and will have another meeting with them on Friday as they begin to formulate their action plan.
"The meeting proceeded smoothly with a number of suggestions and recommendations," Abdul Wahid said during a press conference today.
Najib's younger brother, Datuk Seri Nazir Razak, is also part of the committee.
The committee discussed the value of ringgit, the stability of the financial markets, and strengthening confidence in the capital market.
Ringgit is currently the worst performing currency in Asia with the currency value hitting a 17-year low, drawing comparisons with the 1997 Asian financial crisis.
The committee has been tasked to formulate "immediate and medium term plans" to strengthen the economy. –The Malaysian Insider