Malaysian Minister in the Prime Minister’s Department of Economy Mustapa Mohamed affirmed the Malaysian economy is on a solid track, supported by resilient economic foundations, pragmatic policies and diversified economic structures.
In a statement on September 20, the minister said Malaysia will continue to focus on strengthening the momentum of economic recovery and generating sustainable growth in the long term when the Budget 2023 is presented to the parliament on October 7.
However, he noted that the management of the economy in 2022 is expected to be more challenging.
Commenting on the growth of the national economy, he said the GDP growth of the national economy is projected to reach between 5.3% and 6.3%, taking into account the 6.9% achievement in the first half of this year.
He also emphasised that the measures taken by the government in implementing stimulus packages and the gradual reopening of the economy have reduced the major impact of the COVID-19 crisis, while also supporting economic recovery./.