PM says economy diversified now, much stronger than during 1998 crisis

Prime Minister: The economy is expected to continue growing in 2016, compared with the negative 7.4% growth we saw in 1998."

KUALA LUMPUR: Malaysia’s current economic situation is very different from when the country was affected by the Asian financial crisis in 1997 and 1998, and is much stronger now, according to the Prime Minister.

Datuk Seri Najib Tun Razak said the country’s economic structure had been diversified since then, with commodity-based sectors such as agriculture and mining now only contributing 18.2% to gross domestic product (GDP), compared with 26.9% in 1998.