Economic system can sustain global downturn, says Nor Mohamed

(The Star) – PUTRAJAYA: Malaysia does not need another plan as its present system can sustain any global economic downturn, said Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop.

“Even in the worst case scenario when things go really bad, we already have an in-built system that can adjust itself.

“So, there is really no reason to have a discreet policy called “Plan B” because the plan that we have is adjustable in and around itself,” he told reporters after launching The Report Malaysia 2011.

Nor Mohamed said given the challenging global economic situation, the five per cent growth target was achievable as the economy has been managed quite well.

He said although Malaysia’s exports are still to the United States, Japan and Britain, they have been diversified with a major portion of the nation’s economy now on intra-Asean as well as on India and China.