He said in the Malaysian context, the statistical averages and numbers showing economic growth sometimes do not totally reflect the reality.

Arguing that more could be done to address poverty and inequality in Malaysia, he said: “There’s a reality behind the average numbers that we see.

“These reflect vulnerabilities and gaps, especially if you look at access to services like electricity and water, education and health.

“Yesterday, in the prime minister’s speech, there was an emphasis on not only the GDP and economic growth but the reality behind those numbers.

“He also emphasised the importance of social protection systems that need to be strengthened.

“So we were quite happy when we heard the speech.”

Firas assured the fundamentals of the Malaysian economy, such as the ability to meet debt obligations, having sufficient sources of growth and establishing fiscal buffer zones, were “quite strong”, despite seeing “moderated” growth this year.

Commenting on Malaysia’s income inequality, he noted some progress in closing the gap but argued that the country’s “Gini coefficient” (used to gauge economic inequality) is still high.

“When you look at it over a period of decades, the inequality has come down. So there’s progress, but overall it’s quite high and I think there can still be some improvements,” he said.