Since the launch of the Economic Transformation Programme (ETP) two years ago, we have been making huge economic strides: Gross Domestic Product (GDP) growth has been strong and stable, unemployment and inflation low, and investment, including what had been raised through the world’s third largest Initial Public Offering last year, has been increasing. This has been achieved despite difficulties elsewhere in the global economy. Malaysia has, in many ways, been a bright spot amidst the gloom, and it is against this backdrop that I take pride in sharing the ETP’s progress in helping to transform Malaysia into a highincome, developed nation by 2020.
Yang Amat Berhormat
Dato’ Sri Mohd Najib Tun Hj. Abdul Razak
Prime Minister and Minister of Finance
The ETP in itself is a subset of the New Economic Model. Together with the Government Transformation Programme (GTP), it forms a groundbreaking plan to propel Malaysia towards a developed nation status. The programme focuses on 12 National Key Economic Areas (NKEAs) and six Strategic Reform Initiatives (SRIs). In 2012, they recorded favourable results in meeting their Key Performance Indicator targets. But further than that, I am pleased to report that the ETP also facilitated cross-structural reform needed for Malaysia to achieve sustainable levels of economic growth.
Through increased private investments and growth in domestic consumption, we were able to meet our targeted GDP growth of 5.6 per cent in 2012, despite the increasingly volatile and challenging global landscape.
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