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

Malaysia’s 8.9 per cent gross domestic product (GDP) growth in the second quarter has caught the attention of the world, he added.

“This achievement is the best in Southeast Asia,” the premier said in his special National Day Message on television tonight, adding that the confidence in the country’s economy is clear among foreign investors.

In the first half of 2022, Ismail Sabri noted that net foreign direct investment (FDI) hit RM41.7 billion compared with RM23.3 billion before the pandemic.

“The momentum of economic recovery is not just about GDP growth but also the recovery of the job market as well, where the unemployment rate has gone down from 5.3 per cent in May 2020 to 3.8 per cent in June 2022,” he said. 


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