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Malaysia's economy getting stronger but there is still room for improvement, says PM

PUTRAJAYA: Datuk Seri Anwar Ibrahim said the country is showing signs of positive economic growth but there is still room for improvement.

The prime minister said this was reflected in a number of indicators, including the amount of foreign investments obtained by the country.

Anwar, who is also finance minister, said Malaysia attracted potential foreign investments amounting to RM76.1 billion as of this month.

"This comes from the success of our trade and investment missions to Australia, France and Germany," said Anwar in his speech during the Finance Ministry's monthly assembly here today (March 21).

Anwar said the economy was expected to become stronger and projected to grow between four and five per cent this year.

He added that the unemployment rate had dropped and returned to the pre-pandemic era of 3.3 per cent in January.

Exports in January also showed signs of recovery after rising 8.7 per cent.

"Malaysia's economic fundamentals continue to remain strong and the economic outlook for 2024 is better than last year.

"This is the result of early preparations made by the Finance Ministry, Investment, Trade and Industry Ministry, Foreign Ministry and other government agencies.

"Having that said, there is still room for improvement. It is not that we are pursuing perfection but as stated in Islam, we must continue to strive for excellence."

Anwar reminded civil servants to not only continue upholding their religious obligations but also strive to improve their performance at work.

He added that upholding integrity should be a priority in the fasting month.

"(Do not be an irresponsible person who) still 'sakau' (gain something through illegal means) although he or she is fasting. And then use the monies from 'sakau' to perform the umrah next year."

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