He said Malaysia’s economy was doing well with an expected annual growth of 4.5% to 5%.

“We are targeting a 3.1% deficit and we are on track towards achieving it.

“We have all the programmes in place to achieve this so we are on track,” he said during a press conference to discuss issues surrounding the 1Malaysia People’s Aid (BR1M) at the finance ministry office here.

When asked to respond on why there were still complaints about the high cost of living if indeed the economy was doing well, he said it was because  the alternative media had painted a negative picture of the country’s economy.

He said the government had made sure all basic necessities were exempted from the goods and services tax (GST).

“Don’t blame the GST. Blame the traders. Some of them are making a profit and so on. This must be addressed through enforcement and through checks. The government is taking steps through enforcement, by going to see that the prices in shops are maintained at a reasonable level.”

He further dismissed claims that the cost of living was high as the country had one of the lowest inflation rates in the region.

“They say prices are higher, but I don’t see how. When I was in the UK, the pump price of petrol was more than one pound per litre. One pound is equal to more than RM5 per litre. In Malaysia, what is the price of petrol? So if you compare, (you will find that) we are one of the lowest in terms of (price of) petrol.”

He said the problem was that Malaysians were getting their information from the wrong sources.

“Netizens are writing certain things (which) are not true. So we need to correct the perception. It’s all about perception, you know.

“That (what netizens say) is not the real economy. The real economy is strong, it is performing well and we are managing it. It is the perception we need to correct,” he added.

He said the reality was that restaurants were still full of customers and many Malaysians were still travelling.

“Some people are making noise on alternative media as though the whole country is in trouble. It is a small group (making noise).”

He also pointed out that both the International Monetary Fund and the World Bank were “happy” with Malaysia’s economic performance to date and had noted it was among the few economies showing resilience in the face of the global economic slowdown.

“So I say the perception must be corrected, and after today’s briefing, if you publish it, the ringgit will strengthen, you know. So you need to give positive statements again and again,” he said.