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KUCHING, Aug 18: Sarawak Pakatan Harapan (PH) is confident that the Malaysian economy is heading into the right direction after recording 4.9 per cent GDP growth for Q2 of 2019 compared to 4.5 per cent in the Q1 2019.
State PH Chairman Chong Chieng Jen said in a statement that the strong growth performance of the second quarter of 2019 exceeded the forecast of most economists.
“We have also outperformed our neighbour Singapore who suffered a negative growth for the second quarter this year.
“What makes it more applaudable is the fact that we are in the midst of a trade war between China and the United States of America (USA), a weak external demand and anticipated slowdown in global economy, huge property glut a result of the unplanned policy of the previous government and low commodity and crude oil prices,” he explained.
Chong, who is also Deputy Minister of Domestic Trade and Consumer Affairs (KPDNHEP), said despite all the external factors that were not favourable to economic growth, Malaysia succeeded in achieving a 4.9 per cent GDP growth, and this was attributable to the several focused economic measures of the PH federal government, the expansionary policy and general increased investors’ confidence resulting from a more transparent and clean government.
“However, we also note that the positive economic effect may not be felt immediately by the common people on the street.
This is because such trend normally takes a few months for the full impact to filter down to every level of society,” he explained.
He said having proven successful in the general policy and direction of the PH government, the coalition would continue to work hard and stay focused with these general economic policies and good governance.
“We hope that the people will move forward together with the government and let us together bring the economy of the country to a greater height,” said Chong.— DayakDaily