Washington: US President Donald Trump has said the US will have a "fantastic year" ahead as he touted the economic success during his first year in office.

The remarks came as the president walked into the New Year's Eve party at Mar-a-Lago, his Palm Beach, with first lady Melania Trump.

The president said the country is already "off to a very good start" while highlighting some of provisions included in the Republican tax cut plan, his administration's first major legislative victory.

He touted opening Alaska's remote Arctic National Wildlife Refuge (ANWR) to oil and natural gas drilling and repealing ObamaCare's individual mandate, which requires individuals to buy health insurance or face a fine, The Hill reported.

"We are off to a very good start, as you know, with the great tax cuts and ANWR and getting rid of the individual mandate, which is very, very unpopular, as you know," he said. "We're going to have a great year. We're going to have a fantastic 2018," Trump said.

"But we are going to have a tremendous year. Stock market, I think, is going to continue to go up. Companies are going to continue to come into the country. And they're doing it now, soon to be a record clip," he continued.

The president did not say much when asked about the latest wave of threats by North Korean Leader Kim Jong-Un, who touted in a New Year speech that he possesses nuclear weapons that are capable of striking mainland US.

"We'll see, we'll see," he said. High profile guests at the president's party included his children as well as other top government officials.

Trump and and Barron were both in tuxedos. First Lady Melania had a full length rose gold glittery gown with floral accents.  PTI