Stimulus packages, reopening of economic sector reduce impact of Covid-19, says PM - MIDA | Malaysian Investment Development Authority
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Stimulus packages, reopening of economic sector reduce impact of Covid-19, says PM

Stimulus packages, reopening of economic sector reduce impact of Covid-19, says PM

25 Sep 2022

Various measures taken by the government in implementing the stimulus packages and reopening the economic sector in phases have reduced the significant impact of the Covid-19 pandemic crisis and supported the recovery of economic growth, said Prime Minister Datuk Seri 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 per cent in the second quarter of 2022, compared to the 5.0 per cent recorded in the first quarter.

Malaysia’s second quarter economic growth is the highest in ASEAN and higher than some developed and regional countries, and is expected to be able to reach a target of between 5.3 per cent and 6.3 per cent, taking into account the first half growth of 6.9 per cent, he said.

“There are various indicators of economic improvement, including the number of vehicle sales. For example, (Perodua ) Alza received 30,000 bookings when it was launched while the waiting period for Proton X50 is up to six months,“ he said during the ‘Keluarga Malaysia Dinner’ which was attended by more than 300 Malaysians here.

To help reduce the burden of the people affected by the increase in the price of goods, Ismail Sabri said the government allocated nearly RM80 billion in subsidies.

Ismail Sabri, who is in this city to participate in the 77th Session of the United Nations General Assembly (UNGA), 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 parties. 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 United States, as the country’s ‘little ambassadors’ who also have an important role to continue to project a positive image of Malaysia overseas.

“Your contribution is very important and will also help benefit families and communities in Malaysia,“ he said.

The prime minister said he was confident that the patriotic spirit of Keluarga Malaysia in New York remained high despite being abroad.

Source: Bernama