Malaysia's Economy On The Right Track - PM Anwar

KUALA LUMPUR, July 23 (Bernama) -- Malaysia’s economy remains solid amidst the prevailing challenges, and the government will continue to strengthen its efforts to ease the people’s burden through the fourth MADANI Budget in October.

Malaysia’s Prime Minister Anwar Ibrahim said Malaysia’s gross domestic product (GDP) growth of 4.4 per cent in the first quarter of 2025 (1Q 2025) has been recognised not only within the country but also internationally.

“Based on preliminary projections, the (GDP growth in the) second quarter is expected to reach 4.5 per cent. Additionally, Malaysia has climbed 11 spots to 23rd position in the 2025 World Competitiveness Index.

“Most importantly, the ringgit has also reflected improving confidence. As of the first half of the year, the ringgit has strengthened by more than 5.0 per cent to RM4.23 versus the US dollar,” he said in a special announcement today.

The ringgit’s performance has put it as one of the top five best-performing currencies in Asia this year.

At 11.01 am this morning, the local currency had risen to 4.2230/2305 versus the US dollar from 4.2300/2370 at the close on Tuesday.

“All these achievements in data and figures, as encouraging as they may be, mean little if the people on the ground continue to struggle with the cost of living.

“Sustained economic growth enables the government to implement various initiatives to improve the people’s standard of living,” added Anwar.
-- BERNAMA