LATEST NEWS   MRCB’s indirect unit, Subang Sentral Sdn Bhd, to dispose of 14.83-hectare land in Cyberjaya to Digital Cosmos (S) Pte Ltd’s unit, Digital Cosmos, for RM419.05 million | RM1.29 million channeled for maintenance of Melaka Islamic educational institutions this year - PM Anwar | BNM, People’s Bank of China have renewed the bilateral currency swap arrangement for a term of 5 years, effective from 2026 to 2031, with the size expanded to 220 bln renminbi (RM130 bln) from 180 bln renminbi (RM110 bln) | PM Anwar directs Felda management to submit report on proposed sale of the agency’s loss-making hotels | Govt to continue efforts to increase defence allocation in Budget 2027, strengthen MAF readiness - PM Anwar | 
BUSINESS • 07/08/2026 07:16 PM

Malaysia's Economy Stays Resilient Despite Global Uncertainty - Amir Hamzah

PUTRAJAYA, Aug 7 (Bernama) -- The Malaysian economy remains resilient by recording encouraging growth despite facing global economic uncertainty and geopolitical conflicts, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

He said the country's economy grew by 5.2 per cent in 2024 and maintained the same growth rate last year, while the first quarter of this year showed the gross domestic product (GDP) increasing to 5.4 per cent.

“If we look at it overall, the Malaysian economy is strong. In 2024, 5.2 per cent GDP growth. In 2025, 5.2 per cent. This year, the first quarter was 5.4 per cent and the advance estimate we have for the second quarter is 5.8 per cent.

Ad Banner

"This means that this year we have reached 5.6 per cent. This is in an uncertain environment. Last year we had trade issues with the trade wars, and this year we have issues that exist in West Asia but Malaysia is still resilient, still growing, still moving to become a developed country," he said at the GEAR-uP Progress Report press conference here today.

Amir Hamzah said the performance showed that the implementation of the MADANI Economy Framework was on the right track, with various initiatives being implemented now starting to have an impact on the country's economy and the well-being of the people.

He said the GEAR-uP programme, led by the Ministry of Finance since 2024, is among the government's initiatives to continue to boost the country's economy through domestic direct investment totalling RM120 billion for the period 2024 to 2028.

Ad Banner
Ad Banner
Ad Banner
Ad Banner

He said government-linked investment companies (GLICs) and government-linked companies (GLCs), which are involved in the implementation of the GEAR-uP programme continue to be a catalyst for domestic industries to thrive.

“They (GLICs) help them (industries) in the country to get talents, talents that can be used better, (as well as) attract others to come to Malaysia with funds, with know-how to help the country develop.

“This is the effort we want, because if we want to find money, we can get that money but without a more solid approach, without a good approach, our effort may be limited to bringing funds into the country.

"The important thing, what we want to see is that when the funds are used, the people get the benefits that are presented, Malaysia can develop into a more developed country in the future," he said.

Amir Hamzah said he was confident that the country was on the right track to achieve long-term development aspirations with the cooperation of all parties in realising the MADANI Economy agenda.

"I am happy with what I have seen. We are on the right track and insya-Allah the country will become more mature in the future," he said

-- BERNAMA

 

 


 

More News

Categories

Tags