Economic Figures Are Real, Not "Cooked-up", Says Najib.

Malaysia's encouraging economic figures and indicators are real and not "cooked-up" by the Government, Deputy Prime Minister Datuk Seri Najib Tun Razak said today. "The figures are real. That's absolutely real. You don't make wild accusations like that... we have never cooked-up the figures.

"Our books are very transparent. The people from the World Bank and the IMF (International Monetary Fund) come and examine our books on a regular basis... there is absolutely no way we can cook-up the figures," he told reporters when asked about speculations and accusations that the Government "drummed up" the economic indicators to boost public confidence.

The deputy prime minister said the economic indicators and figures disclosed by the Government to show the country's economic achievements reflected the real situation. "In reality, more people have reaped the fruit of our country's current economic growth than a year ago.

"If we look at those involved in certain sectors like manufacturing, plantation, oil and gas and wholesale, I think in the wholesale sector alone many companies have started to receive new job orders but as usual some companies have not received any. And perhaps companies that have not received any orders are the ones feeling they have not benefited and maybe some people engaged in the wholesale business are also feeling the pressure with the presence of hypermarkets.

"This probably can be due to the consumer shift, meaning consumer buying is still strong but it is confined to newly set up shopping centres like hypermarkets.
This may have caused wholesalers still running traditional retail outlets to feel the pinch but this is not due to the economic status but caused by changes in the economic structure and shift in consumer preference, he said.

He said in any situation of economic growth and structural changes in the economy, there would be those who benefit, termed as winners, and those who lose out, the losers.

"Our challenge is to ensure there will be more winners than losers... those who are still in the traditional retail industry will have to make adjustments when there is a significant structural change in the economy, adjustments must be made to avoid becoming a loser," he said.

Najib said the public had confidence in the economy as evident from the Bursa Malaysia index which had shot up to a 10-year high over the past weeks. "So, unless we adopt measures to make some structural changes to hasten the process, then there will be those who will be unhappy and think that they are not benefiting from the economic growth," he said.

To another question that the encouraging economic indicators would be an opportune time for the Government to call for a snap general election, Najib said to dissolve Parliament, Prime Minister Datuk Seri Abdullah Ahmad Badawi would have to think carefully before coming to a decision.

"To dissolve Parliament, surely the prime minister will have to think very carefully and consider various factors, most importantly we do our work now," he said.

Asked what he meant by various factors, he said: "I cannot reveal them, that's a secret. If I disclose the secrets, the people will make their own assumptions. Hence, we have to keep certain things as a secret," he added. (Bernama)

***** While the DPM has come out with a proper explanation to support the government's positive economic indicators and figures and at the same time attempting to refute the opposition's claims, reading the above report, I get the feeling that he is trying too hard to convince a sceptical public.

After the ASLI Bumi equity debacle, many a Malaysian has become perhaps overly cautious about government facts and figures on a broad range of issues, especially those which are related to the economy. Can you blame the average citizen?
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