Malaysia ‘the fastest growing economy in Asean,‘ political stability crucial: KJ

Malaysia ‘the fastest growing economy in Asean,‘ political stability crucial: KJ

13 Nov 2022

Malaysia’s economic growth is the fastest among six Asean countries in the third quarter and also the first nine months of this year, and the country is “building resilience to face strong global headwinds,” said caretaker Health Minister Khairy Jamaluddin.

“Facilitated by decisive measures in transitioning to endemicity, we are building resilience to face strong global headwinds,” he said in his latest posting on Twitter.

“Political stability is crucial ahead of elections on Nov 19,” he added.

Citing data from various sources in Asean, he noted Malaysia’s stellar 14.2 per cent gross domestic product growth in the third quarter (Q3).

Malaysia’s average nine-month GDP growth of 9.36 per cent was also the highest in the region, ahead of second place Vietnam’s 8.8 per cent, according to the chart he used in the same Twitter posting.

Vietnam’s GDP grew by 13.67 per cent in Q3, followed by Philippines (7.6 per cent), Indonesia (5.72), and Singapore (4.4 per cent).

Thailand has yet to announce its Q3 economic performance.

In the second quarter (Q2), Malaysia’s economy expanded by 8.9 per cent, also the highest among the six Asean countries.

Vietnam recorded a 7.72 per cent expansion in Q2, followed by Philippines (7.5 per cent), Indonesia (5.44 per cent), Singapore (4.4 per cent), and Thailand (2.5 per cent).

Malaysians will cast their votes in the 15th general election (GE15) on Nov 19.

Source: Bernama