PUTRAJAYA, May 11 ― Malaysians should give the Goods and Services Tax (GST) time to play out and allow for additional improvements as the tax scheme will make Malaysia more competitive, Datuk Seri Najib Razak said today.

The Prime Minister said although the GST is unpopular in the short term, it serves to fortify the country by providing an additional source of income.

“GST may not be popular in the short term but if we can improve its implementation and we take action against those who are irresponsibly raising prices, we give additional explanation to the people, we must realise that we must remain competitive as a country,” he said during the monthly gathering with members of the Prime Minister's office.

“This is all done but we must look to the source that can fortify the country,” he added.

He also said that the government will soon announce how it plans to spend the additional revenue from the GST, ensuring that it goes back to the public.

“The people want to know what this additional revenue is for, and we will explain it to them.

“The additional income we will use it for the benefit of the people and the country, that, I guarantee, is the purpose of the government,” he said.

The GST took effect in April 1 and has since been riddled with inconsistencies, including the increase in the price of goods despite Putrajaya's promise the prices would decrease as well as the flip flop on its implementation on mobile prepaid reload cards.

During his address, Najib also pointed out at the country's many achievements, including Malaysia achieving a 6 per cent development rate, a feat no other country has yet to match.

“Our country's development rate has reached 6 per cent. I want to ask, how many countries in the world that can reach a 6 per cent development rate?” he asked.

He added that Malaysia has also seen an almost nonexistent unemployment rate following the implementation of the National Transformation Policy.

“Since the National Transformation Policy was implemented, we have managed to provide 1.5 million employment opportunities, until our unemployment rate is very low, almost full employment,” he said.

Najib also said Malaysia was on track in achieving a balanced budget in which there will be no budget deficit come 2020.

“When I took over leadership of this country, the country's deficit reached 6.6 per cent. But without fail and consistently, we've managed to reduce the country's deficit until it is at 3.5 per cent and were on track to achieve a balanced budget by 2020,” he said.