KUCHING: Malaysia’s Gross Domestic Product (GDP) for the second quarter (Q2) of 2019 grew to 4.9 percent from 4.5 percent for Q1 2019, said Sarawak Pakatan Harapan (PH) chairman Chong Chieng Jen (pic).
He said the strong growth performance of Q2 2019 exceeded the forecast of most economists about the Malaysian economy and indicated that the economy was on the right track and recovering.
“We have also outperformed our neighbour Singapore which suffered a negative growth for the second quarter this year.
“What makes it more applaudable to have achieved such strong growth figure is the fact that we are in the midst of a trade war between China and 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 said in a statement yesterday.
Chong, who is also Domestic Trade and Consumer Affairs (KPDNHEP) Deputy Minister, said despite all the external factors that were not favourable to economic growth, Malaysia had succeeded in achieving a 4.9 percent GDP growth.
“Such success is attributable to several focused economic measures of the Pakatan Harapan (PH) government, the expansionary policy and general increased investors’ confidence resulting from a more transparent and clean government,” he pointed out.
However, Chong added that the positive economic effect might not be felt immediately by the common people in the street.
“This is because such trends normally take a few months for the full impact to filter down to every level of the society.
“Having proven successful in the general policy and direction of the PH government, we will continue to work hard and stay focused with these general economic policies and good governance,” he said.
Chong hopes the people will move forward together with the government and together, bring the economy of the country to a greater height.
