Malaysia confident in weathering US tariffs with solid economic fundamentals
Published on: Monday, May 05, 2025
Published on: Mon, May 05, 2025
By: Bernama Text Size: Anwar stressed that structural reforms introduced under the MADANI Economic Framework will strengthen the country's ability to withstand global economic challenges and stay prepared for future uncertainties Kuala Lumpur: Prime Minister Datuk Seri Anwar Ibrahim is confident that Malaysia's strong economic fundamentals will enable the country to navigate the global uncertainties following the recent announcement of retaliatory tariffs by the United States (US). He stressed that structural reforms introduced under the MADANI Economic Framework will strengthen the country's ability to withstand global economic challenges and stay prepared for future uncertainties 'With a resilient domestic economy and strong confidence, we are not easily swayed by external pressures or overwhelmed by global challenges. 'We have the figures and data that can be managed and used wisely,' he said during a Special Parliamentary Meeting in the Dewan Rakyat today on the US tariffs Anwar, who is also the Finance Minister, described Malaysia's macroeconomic performance last year as highly encouraging, with the country recording a gross domestic product growth of 5.1 per cent in 2024 compared to 3.6 per cent in 2023, surpassing the Budget 2024 forecast of between 4.0-5.0 per cent. 'In addition, we have consistently reduced the fiscal deficit — from 5.5 per cent in 2022 to 5.0 per cent in 2023 and subsequently 4.1 per cent in 2024, down to a projected 3.8 per cent for 2025,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
‘No travel ban on Fahmi Reza'
Clearing the air: Razarudin said the matter is being reviewed, with steps to be taken to refine existing procedures. — Bernama KUALA LUMPUR: Bukit Aman has made clear that there is no official travel restriction on Fahmi Reza amid claims from the artist that he had been prevented from travelling abroad. The explanation came about following a statement from the Prime Minister's Office yesterday, asking the police to look into the matter. Fahmi, who bills himself as a 'political graphic designer', had said that he was stopped by immigration officers at KL Inter-national Airport 2 (KLIA2) on Saturday when he wanted to board a flight to Singapore. But Inspector-General of Police Tan Sri Razarudin Husain indicated yesterday that there is no official travel restriction on Fahmi, though his name is on a movement monitoring list for internal records and reference purposes by the police due to ongoing investigations involving him. 'However, it must be emphasised that this list does not imply any restrictions but is part of standard monitoring procedures implemented by the authorities,' he said in a statement, as reported by Bernama. Razarudin said the confusion occurred during the exit clearance process on Saturday, resulting in the erroneous issuance of a movement restriction order, adding that the matter is being reviewed with appropriate steps to be taken to refine existing procedures. He said the police remained committed to protecting and respecting the freedom of movement of every Malaysian 'and the individual concerned is free to travel in and out of the country as usual, subject to any regulations set by the Immigration Department and other relevant laws'. Earlier yesterday, the Prime Minister's Office said in a statement that the government upholds individual freedom as long as they do not compromise national security or violate existing laws. 'As such, the police must provide further clarification regarding this matter,' said the statement. On Saturday, Fahmi wrote on Facebook that he had wanted to go to Singapore for a two-day trip to attend a concert. However, he said he was stopped at the immigration counter at KLIA2 and was told that Bukit Aman has not permitted him to go overseas. Following Razarudin's statement yesterday, Fahmi issued a response, saying that the explanation from the various authorities over the matter indicated that they were pointing fingers at one another. 'I do not see any party from the government being brave enough to take responsibility for their mistake which restricted my freedom to travel,' he said. 'It is easy to say that there is no official restriction. But the reality is I got barred. I still could not travel abroad. I have been denied my right as a citizen,' he said. 'You always tell me to use the right channel, right? OK, we meet in court,' he said.
The Star
an hour ago
- The Star
Almost RM800mil in loans for water projects
For the sacrificial feast: Fadillah (right) cutting up meat during a Program Ibadah Korban at Kampung Tupong Jaya, Kuching, in conjunction with Aidiladha. — Bernama KUCHING: A total of RM796.4mil in loans were provided to state governments this year to finance water supply projects, says Datuk Seri Fadillah Yusof. The Deputy Prime Minister said the projects were among the Federal Government's measures to mitigate the impact of the south-west monsoon which is expected to bring dry weather and potential drought. He said as of May, 28 projects under the initiative were already underway, with 12 in Sabah, two each in Kedah and Perlis, one in Kelantan, three each in Pahang and Terengganu, and five in Sarawak. 'The projects are at various stages of completion. Some are under implementation and seven are expected to be completed this year,' he told reporters after attending a Hari Raya Aidiladha event at Kampung Tupong Jaya here yesterday, Bernama reported. Fadillah, who is Energy Transition and Water Transformation Minister, said the ministry is also focusing on resolving the issue of non-revenue water (NRW). He said NRW was caused by various factors such as system inefficiencies, pipe leakages, and water theft. 'When pipe connections are poorly installed, leakages happen. There are also old pipes that have started leaking. 'Overall, we estimate that the country loses 40% of its treated water. This incurs high costs. So our priority is to identify methods to reassess the piping systems and replace damaged pipes,' he added.
Malaysian Reserve
3 hours ago
- Malaysian Reserve
FTRE INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Fortrea Holdings, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
NEW YORK, June 8, 2025 /PRNewswire/ — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Fortrea Holdings, Inc. ('Fortrea' or 'the Company') (NASDAQ: FTRE) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Fortrea securities between July 3, 2023 and February 28, 2025, both dates inclusive (the 'Class Period'). Such investors are encouraged to join this case by visiting the firm's site: Case Details The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Fortrea overestimated the amount of revenue the Pre-Spin Projects were likely to contribute to the Company's 2025 earnings; (2) Fortrea overstated the cost savings it would likely achieve by exiting the TSAs; (3) as a result, the Company's previously announced EBITDA targets for 2025 were inflated; (4) accordingly, the viability of the Company's post-Spin-Off business model, as well as its business and/or financial prospects, were overstated; and (5) as a result, the Company's public statements were materially false and misleading at all relevant times. What's Next? A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Fortrea you have until August 1, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. There is No Cost to You We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful. Why Bronstein, Gewirtz & Grossman Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. Follow us for updates on LinkedIn, X, Facebook, or Instagram. Attorney advertising. Prior results do not guarantee similar outcomes. Contact Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller 332-239-2660 | info@
