Tengku Zafrul expressed confidence that Malaysia's economy, which grew by 5% in Q1 2022, can meet its full-year target of 5.3% to 6.3%. This growth is supported by increased domestic and external demand, the reopening of borders, and improving labour market conditions. He emphasised the need for targeted subsidy reforms to ensure fairness and support vulnerable groups while maintaining fiscal responsibility. Despite rising interest rates, the overall financial health of households remains stable, with positive expectations for domestic investment growth.FULL-YEAR GDP TARGET OF 5.3% TO 6.3% ACHIEVABLE
Tengku Zafrul expressed confidence that Malaysia's economy, which grew by 5% in Q1 2022, can meet its full-year target of 5.3% to 6.3%. This growth is supported by increased domestic and external demand, the reopening of borders, and improving labour market conditions. He emphasised the need for targeted subsidy reforms to ensure fairness and support vulnerable groups while maintaining fiscal responsibility. Despite rising interest rates, the overall financial health of households remains stable, with positive expectations for domestic investment growth.
