Published: Sunday October 18, 2009 MYT 7:31:00 PM
Recovery of economy expected next year, says Deputy Finance Minister
KUALA TERENGGANU: The country’s economy is expected to recover next year by recording a positive growth that will create employment opportunities, said Deputy Finance Minister Datuk Dr Awang Adek Hussin.
He said the confidence and projection hinged on the growth of the world economy as it was heading towards recovery.
“In the first and second quarters, the country’s economy had registered negative growth like the world’s economy.
“However, the contraction of the country’s economy at the end of the second quarter was smaller at 3.9% against between 6% and 7% in the previous quarter,” he told reporters after opening the Islamic College of Science and Technology’s second convocation here on Sunday.
Awang Adek said for Malaysia, the retrenchment experienced during the economic slowdown was a temporary experience.
“As the economy picks up, the investment will increase, definitely more jobs will be created. Retrenched workers will be rehired.
“The export earnings had declined by 20% but with factories resuming operations, they will re-employ the retrenched workers,” he said.
Awang Adek said most of the retrenched workers attended skill courses conducted by the Human Resources Ministry during the period of their unemployment.
A total of 568 students received diplomas in medical assistance, nursing, diagnostic radiography, psychology and syariah studies at the convocation.-Bernama
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