Prime Minister Datuk Seri Najib Tun Razak has managed to lead Malaysia to achieve one of the most impressive growth records in Southeast Asia by combining social inclusivity and pro-market economic policies, says a former High Commissioner to Malaysia.
John Dauth, who was based in Malaysia from 1993 to 1996, said since Najib became Prime Minister, 1.8 million jobs had been created, resulting in a 3.0 per cent unemployment rate - one of the lowest in the region and half or less than that of Indonesia (6.0 per cent) and the Philippines (6.8 per cent).
"Growth has also seen a transformation of living standards, with average household income increasing more than 20-fold. Malaysia did well in the decades after 1970 in harvesting the low-hanging fruit of economic development.
"As a result, the country is on the cusp of crossing the US$15,000 per capita gross domestic product (GDP) threshold into the tier of advanced-income countries, and a goal Najib has made to be the centrepiece of Malaysia's 2016-2020 economic program," he wrote in an opinion piece for The Australian, published Friday.
He said the prime minister acted preemptively to strengthen the public finances, essential as a buffer against global trends, whereby according to the International Monetary Fund's most recent Article IV consultation, "fiscal consolidation is well timed, appropriately paced, and remains on track".
Dauth highlighted that last year, Najib took the courageous step of using the window created by falling oil prices to eliminate expensive and poorly targeted petrol and diesel subsidies.
This is in addition to introducing a broad-based 6.0 per cent goods and services tax to strengthen the country's tax base and reduce the reliance on volatile oil and gas revenues.
With various reforms in place, Malaysia's fiscal deficit had almost halved since Najib became Prime Minister and is on course to be eliminated by 2020.
Dauth said Malaysia is a country at a historic juncture in development terms, making the right decisions as it climbs the development pole.
"You do not do that without the tried and tested leadership of someone like Najib," he added.
Bernama
Fri Nov 13 2015
DAUTH: Growth has also seen a transformation of living standards, with average household income increasing more than 20-fold. - AFP photo
Indonesia's Prabowo swears in cabinet of over 100 ministers, deputies
Prabowo Subianto's cabinet has 48 ministries with over 100 ministers and deputies, including two re-appointments.
Freeze on foreign worker employment quota to continue - Saifuddin
Datuk Seri Saifuddin Nasution Ismail said as of Sept 15 the total number of foreign workers is nearing the stipulated ceiling.
King Charles and Queen Camilla visit Canberra on Australia tour
This is King Charles' first major foreign trip since being diagnosed with cancer in February.
Indonesia's Prabowo plans military academy retreat for new cabinet
The retreat is aimed at forming a bond between around 100 cabinet ministers and their deputies, according to migrant protection minister.
Four loan sharks held for alleged involvement in paint splashing, arson in six states
The syndicate is believed to have conducted illegal money-lending activities, involving loan sharks and online money-lending, police said.
China's PCT international patent applications top world for 5 consecutive years: WIPO chief
China has become the country with the most international patent applications, according to AIPPI President Shoichi Okuyama.
Charles Leclerc wins US Grand Prix; Max Verstappen 3rd after Norris penalty
Charles Leclerc also won the Monaco Grand Prix and Italian Grand Prix this year and sits third in the driver standings.
Australia's Qantas told to pay $114,000 to 3 sacked workers in landmark outsourcing case
Qantas claims the sackings were warranted as a cost-cutting measure during the COVID-19 pandemic.
After Sinwar's death, Israel aims to lock in strategic gains before US election
Israeli leaders are seeking to reshape regional landscape in Israel's favour and shield its borders from any future attacks, sources said.
Netanyahu told Trump Israel will make decisions based on its interests, PM's office says
Israel is pondering its military reaction to recent Iranian missile strikes.
Ringgit extends positive momentum to open higher against US dollar
The ringgit traded higher against the US Dollar in today's early session, driven by continued buying interest towards the local currency.
BHP faces $47 billion UK lawsuit over Brazilian dam collapse
More than 600,000 Brazilians, 46 local governments, and around 2,000 businesses are suing BHP over the collapse of the dam.
Trump hands out french fries in Pennsylvania, Harris visits Georgia churches
Both candidates were scrambling for votes in the most competitive states.
Brazil's Lula cancels BRICS trip after minor brain hemorrhage from fall
Lula "was advised to avoid long-distance air travel but is otherwise able to carry out his regular duties."
Lebanese flee as blasts hit Beirut, Israel warns of strikes on Hezbollah finance arm
On Sunday Israel said it hit Hezbollah's intelligence headquarters and an underground weapons workshop in Beirut.
87 people killed or missing in northern Gaza's Beit Lahiya, health ministry says
A total of 87 people were killed or missing under the rubble after an Israeli attack on Saturday on northern Gaza's town of Beit Lahiya.
Hundreds of colonists storm Al-Aqsa Mosque under heavy Israeli protection
Hundreds of Israeli colonists stormed the Al-Aqsa Mosque compound on Sunday morning during the fourth day of the Jewish Sukkot festival.
ANALYSIS - What could happen if Trump rejects the US election results
If Trump seems to be losing, the delay could let him claim fraud and undermine confidence in election officials.
Motorcycling - Marquez wins Australian MotoGP after intense battle with Martin
The 31-year-old, third in the championship standings, has now won the Australian MotoGP four times in the premier class.
Prabowo takes up Indonesian presidency, vows to tackle corruption, other issues
Indonesia's Prabowo Subianto on Sunday took over as president of the world's third-largest democracy, vowing to combat internal issues