Creation of greater KL spurs economic growth

BENTONG: The step taken by Prime Minister Datuk Seri Najib Abdul Razak of transforming the capital city into Greater Kuala Lumpur by implementing various mega projects has been a catalyst for the country's economic growth.
Transport Minister Datuk Seri Liow Tiong Lai (pix) said this was proven when Malaysia's economic growth rate last year showed encouraging increase from the first to the third quarter of the year.
"When the prime minister tabled the 2017 Budget, we estimated the country's economic growth rate to be at only 4.5 to five per cent.
"However, in the first quarter of last year alone, we recorded an economic growth rate of 5.6%, followed by 5.8% in the second quarter and 6.2% in the third quarter. This shows that the government's effort of transforming Kuala Lumpur is spot on.
"The building of high-impact mega projects like the Tun Razak Exchange, electric train service (ETS) and the Mass Rapid Transit (MRT) system has spurred economic growth and we can develop even more rapidly in the next five years."
Liow said this in his speech at a tea function with teachers and educators in the Pelangai state constituency and official opening of Al Farabi Hall of Sekolah Kebangsaan Felda Chemomoi, here, today.
He said the prime minister's step of forging good ties with Singapore was a far-sighted move which enabled Malaysia to benefit from the development spillover of the neighbouring island republic.
"The opposition always says that our country will become poor and go bankrupt, but it does not highlight the country's series of success despite facing various challenges and overcoming them in this uncertain economic situation," he added. — Bernama