GDP growth indication of economic recovery – Chong

KUCHING, The strong 4.9 per cent Gross Domestic Product (GDP) growth in the second quarter of 2019 (Q2 2019) is an indication that the country’s economy is on the right direction and on the path to recovery, said Sarawak Pakatan Harapan (PH) chairman Chong Chieng Jen.

He said the achievement was even more praiseworthy in the midst of global economic uncertainties such as the United States-China trade war, weak external demand, the anticipated slowdown in global economy, as well as the low commodity and crude oil prices.

The Q2 2019 strong growth performance exceeded the forecast of most economists about the Malaysian economy.

“We have also outperformed our neighbour, Singapore, which suffered a negative growth during the second quarter this year, said Chong, who is also the Deputy Minister of Domestic Trade and Consumer Affairs in a statement today.

He said the achievement was also attributable to the government’s focused economic measures, expansionary policies and the general increase in investors’ confidence which resulted from a more transparent and clean government.

However, Chong noted that the positive economic effect might not be felt immediately by the people because it normally takes a few months for the full impact to filter down to every level of the society.

After having proven to be 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.

He also hoped that the people would move forward together with the government to bring the country’s economy to greater heights.

Source: BERNAMA (News Agency)