Johor bahru: The government is focusing on balancing public welfare, inflationary pressures, and the sustainability of the country's economic growth following the conflict in West Asia, with the 2026 economic growth target remaining at 4 to 4.5 per cent for now.
According to BERNAMA News Agency, Economy Minister Akmal Nasrullah Mohd Nasir stated that the projection takes into account various current risks, including geopolitical tensions and disruptions to global supply chains. However, any changes to the 2026 economic growth target will be announced by Bank Negara Malaysia.
Akmal Nasrullah emphasized that to ensure continued economic growth, domestic spending must be maintained as necessary, private investment should continue to be driven, and the implementation of government development projects must proceed as planned. Simultaneously, the government needs to balance protecting public welfare with maintaining economic growth momentum.
He highlighted that the primary challenge faced is related to oil supply issues and inflation, but stressed the importance of achieving this balance without impacting economic growth. These remarks were made after attending the Johor Bahru parliamentary Aidilfitri Open House.
Further elaborating, Akmal Nasrullah mentioned that the government has activated the National Economic Action Council (MTEN), which now convenes weekly to monitor current developments using the latest data and to explore appropriate measures to mitigate the conflict's impact.
He noted that the outcomes of MTEN discussions will be presented at Cabinet meetings for decisions. Concurrently, the Ministry of Economy is holding engagement sessions with various parties, including small and medium enterprises (SMEs), to gather feedback on current challenges and strategies to alleviate economic pressures.
Additionally, Akmal Nasrullah stated that the government is focusing on ensuring domestic supply, including energy, with necessary steps being taken to ensure supply continuity in the medium term.
Previously, the government had maintained its 2026 economic growth forecast at 4 to 4.5 per cent despite facing global uncertainties, with periodic reassessments to be made based on the latest developments.