Malaysian PM: economic expansion encouraging

The encouraging economic expansion seen at present is due to the expansionary fiscal policy via the 2022 Budget, a monetary policy that has remained accommodative, as well as the full reopening of the economy and national borders, said Malaysian Prime Minister Ismail Sabri Yaakob on August 30.

Wednesday, August 31, 2022 17:16

Malaysian PM: economic expansion encouraging ảnh 1

Malaysian Prime Minister Ismail Sabri Yaakob (Photo: VNA)

Kuala Lumpur (VNA) - The encouraging economic expansion seen at present is dueto the expansionary fiscal policy via the 2022 Budget, a monetary policy that hasremained accommodative, as well as the full reopening of the economy andnational borders, said Malaysian Prime Minister Ismail SabriYaakob on August 30.

Malaysia's 8.9% GDP growth is the bestin Southeast Asia, he said in the televised National Day message.

The momentum of economic recovery is not justabout GDP growth but also the recovery of the job market as well, where theunemployment rate has gone down from 5.3 % in May 2020 to 3.8% in June 2022.

The same day, Malaysian Finance Minister ZafrulAbdul Aziz said the country will spend about 17.88 billion USD on subsidies in2022 to maintain inflation goal.

In seven months of thisyear, Malaysia’s inflation stood at 2.8%, within the central bank’s targeted rangeof 2.2-3.2% this year. He added that Malaysia’s inflation will be one of theworld’s lowest thanks to subsidies./.

VNA

#Malaysia #Malaysian Prime Minister #Ismail Sabri Yaakob #economic recovery #Malaysia’s inflation #Malaysia's economy #Vietnamplus #Vietnam News Agency Malaysia

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