Malaysia's Q2 2025 economic growth hits 4.5% under MADANI reforms
He attributed the positive outlook to Prime Minister Datuk Seri Anwar Ibrahim's leadership in revitalising the economy and improving public welfare.
Nga stated, 'Despite increasingly challenging global pressures, steady domestic demand along with growing consumer and investor confidence reflect the effectiveness of the government's approach.'
The Department of Statistics Malaysia's preliminary estimates show an improvement from the 4.4% growth recorded in the previous quarter.
The construction sector is leading the expansion with an expected 11.0% growth, fuelled by non-residential and housing projects.
Meanwhile, the services sector is forecast to grow by 5.3%, up from 5.0%, while manufacturing recorded a 3.8% increase.
Nga credited domestic demand for the strong performance, supported by government initiatives such as the Basic Rahmah Contribution (SARA), Cash Rahmah Contribution (STR), and higher minimum wages.
'These measures have boosted income and purchasing power,' he said.
However, he cautioned that external risks like global trade tensions and tariff wars remain concerns.
'The Madani Government remains committed to ensuring inclusive economic growth and the well-being of all Malaysians,' he added.
Nga also welcomed Bank Negara Malaysia's decision to lower the Overnight Policy Rate (OPR) to 2.75%, calling it a proactive move to support economic activity, particularly in real estate. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
19 minutes ago
- The Star
Supply of chicken eggs remains stable despite end to subsidies, says Mat Sabu
KUALA LUMPUR: Malaysians can still purchase a tray of Grade D chicken eggs for under RM10, with supplies remaining stable and prices competitive despite the full removal of subsidies on Aug 1, says Datuk Seri Mohamad Sabu. The Agriculture and Food Security Minister said the continued availability of more affordable eggs in the market has helped mitigate the impact of the subsidy withdrawal, particularly for lower-income households. 'Grade C and D eggs remain widely available, and in some areas, a tray of 30 can still be bought for less than RM10. This ensures that B40 families are not burdened by rising prices,' he told the Dewan Rakyat on Tuesday (July 22). 'Of course, grades A and B are slightly more expensive, but C and D remain in the market, and that's what consumers are buying. This is the trend we're seeing,' he added. The government had earlier announced that the price control mechanism for chicken eggs would be lifted and the subsidy reduced from 10 sen to five sen per egg effective May 1, 2025. The subsidy will be removed entirely starting Aug 1. Mohamad said that from May 31 to July, the reduction in subsidies had already saved the government RM135mil, about RM45mil per month which can be reallocated to other programmes that directly benefit the people. He gave his assurance that the decision to end subsidies would not disrupt egg supply, citing that monthly production is at around 1.75 billion eggs, while domestic demand stands at 1.06 billion. The surplus of approximately 690 million eggs will partly support exports. 'Egg supply is stable and prices are reasonable. The removal of subsidies will not affect stability because the industry has responded well. We're also seeing a drop in chicken feed costs, which helps,' he said. To ensure prices remain stable, the Ministry, together with the Domestic Trade and Cost of Living Ministry, will continue to monitor the market and take enforcement action against profiteering or supply disruptions. He noted that annual inflation for chicken eggs had dropped to -5.3% as of May 2025, although the price dip has not occurred across all grades — likely due to market adjustment and targeted subsidy implementation. 'We're working with all parties, such as breeders, wholesalers, and others and so far, it's been smooth. The situation is stable and well-managed,' he said. Mohamad was responding to Datuk Seri Sh Mohamed Puzi Sh Ali (BN-Pekan), who had asked how the government would ensure that the removal of subsidies would not burden vulnerable groups, especially the B40.
Borneo Post
19 minutes ago
- Borneo Post
Fahmi: Tune in to PM's special announcement tomorrow at 10.30am
Fahmi on Facebook says Anwar will make his anticipated major announcement tomorrow morning. – Bernama photo KUALA LUMPUR (July 22): Communications Minister Datuk Fahmi Fadzil today said Prime Minister Datuk Seri Anwar Ibrahim will make his anticipated major announcement tomorrow morning. 'The Prime Minister will make an announcement of appreciation for all Malaysians at 10.30am on Wednesday, July 23, 2025. Stay tuned,' he wrote on Facebook. Yesterday, Prime Minister Datuk Seri Anwar Ibrahim said his anticipated major announcement, which he described as an 'extraordinary tribute' to Malaysians, has been delayed. He said more time is needed to finalise the matter following the recent unity government retreat in Port Dickson. Anwar said last week the Finance Ministry is currently refining proposals that can be announced immediately to ease the burden on the people and address current issues. According to the Prime Minister, the government is currently looking for the best approach to balance the rising cost of living with the country's fiscal capacity, given that existing expenditure on assistance such as the Rahmah Cash Contribution (STR) and civil servant salary increases has reached billions of ringgit. On July 14, Anwar hinted at the matter through a post on Facebook with a poster reading 'Coming Soon', along with the message: 'An Extraordinary Appreciation for Malaysians. With Malaysiaku.' The post caught the attention of Malaysians online who generally expressed excitement and anticipation for the announcement which is expected to provide comprehensive benefits to the people. – Malay Mail anwar ibrahim fahmi fadzil special announcement
Malay Mail
an hour ago
- Malay Mail
Nga demands apology over ‘white elephant' claims as MACC clears RM250m MyKiosk project
KUALA LUMPUR, July 22 — Housing and Local Government Minister Nga Kor Ming today called on critics to apologise to his ministry after the Malaysian Anti-Corruption Commission (MACC) found no criminal elements in the MyKiosk project. Nga said the Ministry of Local Government and Rural Development (KPKT) had taken proactive steps by inviting the MACC to investigate the project following various allegations labelling it a 'white elephant' and other claims of mismanagement. 'There were previously various allegations labelling this project a white elephant and so on. Because of that, the KPKT took the initiative to invite the MACC to investigate. 'When the MACC didn't come to us, we went to them and handed over all the documents for their review,' he said during a question-and-answer session in the Dewan Rakyat. Nga said the MACC subsequently issued a statement confirming that there was no abuse of power, no criminal elements, and no signs of corruption related to the project. 'So to those who threw stones, don't hide your hands. On behalf of all the hardworking KPKT staff who have been tirelessly helping the people, I demand that those who made slanderous accusations apologise,' he said. Nga added that the MyKiosk initiative, which aims to provide standardised, low-cost business premises for small traders, remains part of the government's agenda to support grassroots entrepreneurs. In May, Parti Pribumi Bersatu information chief Datuk Tun Faisal Ismail Aziz claimed that the MyKiosk project was wasteful and had turned into a white elephant. Selangor MCA Youth also lodged a complaint with the MACC, urging an investigation into the funding and implementation of the RM250 million MyKiosk project. Its chief, Tan Jie Sen, claimed that despite the large allocation, just over half of the kiosks were occupied. Nga said as of July 2025, the occupancy rate for MyKiosk stood at 2,926 units (91.75 per cent), while MyKiosk 2.0 recorded an occupancy of 3,518 units (86.78 per cent).
