Dateline 2016-06-09, The Star:
Malaysia’s move to diversify its economy will see it reducing its dependence on oil and gas revenue while focus will be on the services sector, says Datuk Seri Najib Tun Razak.
The Prime Minister said on Monday that in 2008, oil and gas accounted for 39.7% percent of total revenue, but this year it is forecast to be 28.9%.
“Services now account for 55.2% of GDP, well on the way to our target of 65% by 2020. Inflation is projected to be between 3% and 4%, and we are essentially at full employment,” he said at the opening of the Invest Malaysia 2014.
Najib, who is also the Finance Minister, said since the Asian Financial Crisis, the government had focused on the fundamentals to create a strong and stable financial architecture.
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Wata - Malaysian Oil and Gas Engineer 