KUALA LUMPUR: The government maintained focus and commitment on physical transformation and management of the nation’s economy and finances despite uncertain global economy, Yang di-Pertuan Agong Sultan Muhammad V said.
He said the government’s finances were also expected to become stronger thanks to higher revenue, minimal spending growth, and decrease in fiscal deficit.
“Malaysia’s external (international) trade is also expected to remain strong in line with increasing global trade activities.
“The country also remains among choice destination of investment and is expected to pull in more investment for 2018. It is hoped that this positive momentum is maintained,” he said.
His Majesty said this in his speech at the official opening of the first meeting of the sixth session of the 13th Parliament here today.
Sultan Muhammad V also reminded the government that maintaining success is harder than achieving it.
"I urge all planned programmes and projects to be implemented by taking into account current challenges faced by the country.
"I welcome the government's continuous efforts to tackle issues close to the hearts of the people via various initiatives, especially in regards to cost of living.
"I believe that more such initiatives would be introduced following the government's move to establish the National Cost of Living Action Council, to plan out suitable programmes that can be immediately implemented to lessen the burden of the people," he said.
He said that the government would continue to provide allocation to implement more programmes and projects for the prosperity of the people.
"Subsidies and targeted aid will continue to be provides to those in need," he said.
The King also noted that appreciation for the country's historical legacy and mastery of the national language would strengthen the basis of Malaysian identity, and lead to unity among the people.
"The practice of moderation upheld by Malaysia has also been welcomed worldwide as a resolution to tackle the spread of extremism and radicalisation," he said.
Reporting by Hidir Reduan, Nazura Ngah, Arfa Yunus, Luqman Arif Abdul Karim and Ahmad Suhael Adnan