Prime Minister Ismail Sabri Yaakob says this is proven with the GDP achieving 8.9% growth in the second quarter of this year.
NEW YORK: Stimulus packages and the reopening of the economic sector in phases helped reduce the significant impact of the Covid-19 pandemic crisis and supported the recovery of the economy, says Prime Minister Ismail Sabri Yaakob.
He said the country’s economy continued to strengthen with the gross domestic product (GDP) registering a stronger growth of 8.9% in the second quarter of 2022, compared with the 5.0% recorded in the first quarter.
Malaysia’s second-quarter economic growth is the highest in Asean and higher than some developed and regional countries as well.
“There are various indicators of economic improvement, including the number of vehicle sales.
“For example, the latest Perodua Alza received 30,000 bookings when it was launched while the waiting period for Proton X50 is up to six months,” he said at a dinner which was attended by more than 300 Malaysians.
To help reduce the burden of the people affected by the increase in the price of goods, Ismail said the government had allocated nearly RM80 billion in subsidies.
Ismail, who spoke at the United Nations General Assembly on Friday, said when he took over as prime minister last year, his priorities were political stability and racial unity.
“Political stability is important to attract foreign investment. This was realised through a memorandum of understanding with the opposition.
“To strengthen unity among the various races in Malaysia, I introduced the Keluarga Malaysia concept,” he said.
He also described Malaysians abroad, including in the US, as the country’s “little ambassadors” who also have an important role to continue to project a positive image of Malaysia overseas.