|COVID–19 NEWS||Owners of premises in buildings allowed to determine protocol on wearing of face mask at their venue - Johor Exco | Italy greenlights Omicron-adapted COVID-19 booster shots | New COVID-19 cases down 16.9 pct last week | Japan to simplify COVID-19 airport quarantine procedures | EMA endorses Omicron-adapted COVID-19 vaccines ||
KUALA LUMPUR, Aug 16 (Bernama) — The government is confident Malaysia’s economic recovery is on solid ground and on track to achieve growth of between 5.3 and 6.3 per cent this year.
Deputy Finance Minister II Yamani Hafez Musa noted that the gross domestic product (GDP) had expanded 5 per cent in the first quarter, 8.9 per cent in the second quarter, and 6.9 per cent overall in the first half of the year.
“The unemployment rate also declined to 3.8 per cent in June 2022 compared with 5.3 per cent in May of 2020, along with a rise in demand for goods and services, resulting in an 18.3 per cent expansion in private consumption in the second quarter, compared with 5.5 per cent in the first quarter,” he told the Dewan Negara today.
Foreign direct investment (FDI) jumped to RM41.7 billion in the first half of the year compared with RM20.2 billion in the first half of 2021.
“Consistent policy support, especially initiatives under Budget 2022 implemented since the beginning of the year will contribute to better economic performance this year.
“Spillover effects from Budget 2021 and its various economic packages will also help lift the economy to pre-pandemic levels,” he said, adding that the transition to the endemic phase and the reopening of the country’s borders accelerated economic activities.
Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial