Malaysia on right track for economic recovery -PM - MIDA | Malaysian Investment Development Authority
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Malaysia on right track for economic recovery -PM

Malaysia on right track for economic recovery -PM

31 Jan 2022

Prime Minister Datuk Seri Ismail Sabri Yaakob today expressed hope that the government’s efforts to ensure economic stability and people’s wellbeing would be further improved in the Year of the Tiger this year and beyond.

In conjunction with the Lunar New Year, he also called on all Malaysians to stay united in supporting the government’s efforts to revive and restructure the country’s economy to enable Malaysia to become a fully developed nation.

He said the reopening of over 90 economic sectors and most of the social activities, as well as the high vaccination rate among the entire population of the country, proved that Malaysia’s economy is on the right track for economic recovery.

“With the momentum of recovery, the country’s Gross Domestic Product (GDP) is on a strong track to continue growing between 5.5 per cent and 6.5 per cent in 2022. It is also in line with the IMF’s (International Monetary Fund) projection of 6.0 per cent, and the World Bank’s projection of 5.8 per cent.

“The growth will be driven mainly by the 2022 Budget which expands to RM332.1 billion, as well as the normalisation of economic and social activities,” he said in a statement in conjunction with Chinese New Year 2022 today.

Apart from that, the prime minister said the resumption of projects with high multiplier effects and strong external demands, especially from major trading partners had also boosted Malaysia’s economic growth.

“All these are in line with the government’s aspirations in the 12th Malaysia Plan to achieve the status of a high-income nation by 2025 through various initiatives,” he said.

While wishing Happy Chinese New Year to the Tionghua community, Ismail Sabri said after two years of celebrating separately and from a distance, it was hoped that this year’s celebrations would enable all family members to bond together and strengthen their ties.

Nevertheless, he also reminded everyone to stay vigilant and continue complying with the standard operating procedures to curb the spread of Covid-19 during the celebrations.

“Thank you to the entire Chinese community who have worked closely with other races like the Malays, Indians, Kadazan, Dusun, Murut, Iban, Bidayuh and Melanau as a Malaysian Family.

“Let us all pray for this year to bring prosperity, happiness and good health for the entire Malaysian Family. Gong Xi Fa Chai, Xin Nian Kuai Le,” he added.

Source: Bernama