KUALA LUMPUR: The projected 4.5% economic growth for the second quarter of 2025 highlights the success of the Madani Government’s reform agenda, according to Housing and Local Government Minister Nga Kor Ming.
He attributed the positive outlook to Prime Minister Datuk Seri Anwar Ibrahim’s leadership in revitalising the economy and improving public welfare.
Nga stated, “Despite increasingly challenging global pressures, steady domestic demand along with growing consumer and investor confidence reflect the effectiveness of the government’s approach.”
The Department of Statistics Malaysia’s preliminary estimates show an improvement from the 4.4% growth recorded in the previous quarter.
The construction sector is leading the expansion with an expected 11.0% growth, fuelled by non-residential and housing projects.
Meanwhile, the services sector is forecast to grow by 5.3%, up from 5.0%, while manufacturing recorded a 3.8% increase.
Nga credited domestic demand for the strong performance, supported by government initiatives such as the Basic Rahmah Contribution (SARA), Cash Rahmah Contribution (STR), and higher minimum wages.
“These measures have boosted income and purchasing power,“ he said.
However, he cautioned that external risks like global trade tensions and tariff wars remain concerns.
“The Madani Government remains committed to ensuring inclusive economic growth and the well-being of all Malaysians,“ he added.
Nga also welcomed Bank Negara Malaysia’s decision to lower the Overnight Policy Rate (OPR) to 2.75%, calling it a proactive move to support economic activity, particularly in real estate. - Bernama
