Malaysia's economy will endure trying times and continue to grow - Najib

Prime Minister Datuk Seri Najib Razak said Malaysia’s economy is strong enough to endure trying times and will continue to grow.

Speaking in London at the launch of PNB House, Najib also said the country is in a much stronger position as compared to during the Asian financial crisis in 1997.

As reported by the New Straits Times, Najib said there are foreigners and even Malaysians who chose to downplay Malaysia’s strengths.

“Some foreigners and sadly some Malaysians too have been trying to talk Malaysia down.

“The reality, the true story about Malaysia, is that we have an economy that is underpinned by sound fundamentals. Our economy is on track and is expected to expand at between 4.5 per cent to 5.5 per cent this year,” he was quoted in the English daily.

Najib added, the country is however in much better shape than it was before.

“Our revenue has been hit by the fall in oil prices and the ringgit is severely undervalued. “It is important to note that this is not 1997 or 1998. We are in a far, far stronger position than we were then.

“Our financial markets are in good shape and our economy is still growing at a very healthy state," he said.