More than 5%

Malaysia Not In Recession Now, Says PM

KUALA LUMPUR, Jan 9 (Bernama) -- Malaysia is not facing a recession now despite the global financial meltdown that has badly hit the United States and Europe, Prime Minister Datuk Seri Abdullah Ahmad Badawi said Friday.

"We are not in recession now," he said.

"We are not having too much problem in the fourth quarter. Even the growth at two percent in the quarter, it would give us an average of more than five percent," he told reporters after opening the permanent secretariat of the World Islamic Economic Forum (WIEF) Foundation.

"Definitely more than five percent," Abdullah said in responding to comments from former finance minister Tengku Razaleigh Hamzah that the Malaysian economy was bad.

"I don't think that's right. Maybe he doesn't have all the information that we have. If it is really that bad, we would have be in recession by now," he said.