KUALA LUMPUR, May 21 — Malaysia recorded an encouraging economic achievement in the first quarter of 2024 at 4.2 per cent, surpassing the expectations of many parties who projected a growth rate at 3.9 per cent, said Prime Minister Datuk Seri Anwar Ibrahim.
“In a global economic environment that continues to be uncertain, almost all sectors have surged and catalysed the growth in the first quarter of 2024.
“This macroeconomic achievement should be celebrated together,” he said in a national address that was broadcast live on all media channels tonight.
Citing the country’s economic performance, Anwar said the labour market grew by 2.1 per cent, increasing the total workforce to 16.4 million.
“The inflation rate remained low at 1.7 per cent compared with 1.6 per cent in the fourth quarter of 2023, and for the first four months of 2024, Malaysia’s trade volume grew by 8.3 per cent to RM912.27 billion,” he added.
Anwar, who is also Finance Minister, said the government is aware of living cost burdens.
He said strategies taken by the Madani government cover new plans involving various sectors and aspects of the economy.
“Among them, the launch of the National Energy Transition Roadmap, New Industrial Master Plan (NIMP) 2030, 12th Malaysia Plan Mid-Term Review, and the Madani Budget,” he said.
Touching on efforts to increase the people’s incomes, Anwar said NIMP 2030 aims to increase the monthly income of manufacturing workers to a minimum of RM4,500 by 2030.
He also said Khazanah Nasional Bhd has mobilised efforts to produce new entrepreneurs in high-growth sectors, with RM1 billion in funding.
— Bernama
