KUALA LUMPUR: The government is confident that economic growth will exceed 5.0 per cent this year, marking the third consecutive year of growth above 5.0 per cent under the MADANI Government, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
"Gross Domestic Product (GDP) grew by 6.0 per cent in the second quarter of 2026. With overall GDP growth for 2026 projected at between 4.8 and 5.3 per cent, the government is confident that growth will exceed 5.0 per cent this year,” he said when winding up the debate on the Supply Bill 2027 at the policy stage for the Ministry of Finance (MoF) in the Dewan Rakyat today.
In its recent Preliminary Estimates of GDP report, the Department of Statistics Malaysia (DOSM) estimated that the Malaysian economy expanded by 5.3 per cent in the third quarter of 2026, following growth of 6.0 per cent in the preceding quarter.
DOSM said the growth was supported by positive performances across all economic sectors, except mining and quarrying, which recorded a contraction.
"Cumulatively, for the first three quarters of 2026, the Malaysian economy registered growth of 5.5 per cent, higher than the 4.8 per cent recorded in the corresponding period of 2025,” DOSM said.
Amir Hamzah said growth in 2027 is projected to be between 4.2 and 5.2 per cent.
The unemployment rate remained low at 2.9 per cent in August. The value of approved investments and trade reached the highest levels in history.
"The ringgit remains resilient. The country's competitiveness ranking also improved significantly, rising from 34th in 2024 to 15th spot in just two years. These achievements show that the national economy is on the right track, with strong fundamentals despite global uncertainties.
"We are mobilising the capabilities and contributions of all parties to advance the nation-building agenda anchored in the MADANI Economy framework.”
The aim is to develop high-value economic sectors and master the latest technologies to create better jobs and improve the people's well-being, he said.
"Additionally, we want the country to remain grounded in good governance, strong unity among its people, and the continued preservation of its national treasures and heritage.” - Bernama
