Najib: Malaysia economy getting worst faster than expected

Najib: Malaysia economy getting worst faster than expected

PUCHONG: Former Prime Minister Datuk Seri Najib Tun Razak said Malaysia’s economy is getting worse faster than expected when  Bank Negara unexpectedly cut its reserve ratio to 3 %.

In a Facebook posting, Najib said the cut means the government has acknowledged the cycle of cash is impacting the economy.

“The reserve ratio is the minimal percentage  reserve of deposit kept by the central bank

 “The 3% ratio is the lowest since the global economic crisis happened eight years ago. ,” he said.

He was commenting on Bank Negara yesterday that it cuts reserve ratio from 3.5% to 3%.

Najib also believes the 4.7% of the 2019 economic growth projection will also be affected in line with the cuts.

“Last month, Finance Minister Lim Guan Eng secretly lower the 2019 economic growth projection from 4.9% to 4.7%,” he said.

By Irman Hashim 


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