Malaysia sees signs of economic recovery in second quarter
The Malaysian government will decide whether to revise its growth target of between 6 percent and 7.5 percent this year based on the gross domestic product (GDP) performance for the second quarter, as the economy is seeing signs of recovery, said an official.
The Malaysian government will decide whether to revise its growth target of between 6 percent and 7.5 percent this year based on the GDP performance for Q2 (Photo: themalaysianreserve)At a press conference on June 17, Senior Minister and International Trade and Industry Minister Azmin Ali said the Bank Negara Malaysia (BNM) and the Ministry of Finance are currently looking at the details of the Q2 performance, given that the ongoing total lockdown would have some effects on the economy.
He said signs of recovery in Q2 have been seen such as trade performance and foreign direct investment is coming in, reflecting the confidence level of foreign investors in Malaysia.
Citing an example, he said last week, the Australian-based AT&S decided to invest 8.5 billion RM in Malaysia by setting up a new facility in the Kulim Hi-Tech Park, Kedah.
He expressed his belief that if the country could accelerate the immunisation programme and reach herd immunity, it would have a positive effect on the economic recovery./.
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