MALAYSIA EXPECTS BETTER GROWTH IN 2010

KUALA LUMPUR, Aug 17 (Bernama) -- Malaysia is expected to record better growth
in 2010 in tandem with the positive growth forecast for Europe, said Deputy
Finance Minister Datuk Wira Chor Chee Heung.
"Since Malaysia's major exports are to Europe, the recovery there is bound to
have a positive impact on our economy.
"These countries are showing positive signs of economic recovery and this
augurs well for Malaysia," he told reporters after launching the Marine Customs
Officers Association's blog.
Chor was commenting on the encouraging growth chalked up by France and Germany
in the second quarter of 2009 and its impact on Malaysia.
However, he said Malaysia can no longer depend on the American and European
markets to sustain exports as consumers there have turned cautious in their
spending following the economic crisis.
Chor said the massive capital injection undertaken by countries, worldwide,
has had a positive impact in stimulating their domestic economies.
Speaking on a another development, Chor said the Royal Malaysian Customs
accrued RM8.935 billion in taxes and duties, between January and May 2009,
against RM8.797 billion collected in the same period last year.
In 2008, the department raked in RM28.63 billion in taxes and duties, the
highest since the department's inception, compared with RM4.9 billion collected
in 2007.
Chor also said,"Against the current economic scenario, smuggling activities
in the Malaysian waters is expected to be rampant".
-- BERNAMA
WNA VMD