Malaysia’s economic growth projection of between 5.3% to 6.3% this year is still on track, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said
“But things are very fluid, so we have to constantly monitor progress and ensure both monetary responses and fiscal responses are done to ensure that our economy is growing despite the challenges.
And will be a challenge not just for Malaysia but also other economies in the world as we face the current challenges, “ he told reporters after the launch of phase one MRT Putrajaya Line at Sri Damansara MRT station today.
He said this following a question on whether the Malaysian economy will hit recession amid the growing fears of a recession in the United States.
Tengku Zafrul said that the revised US forecast has still not indicated a recession but moderation in gross domestic product (GDP) growth.
“Malaysia being a small and open economy, obviously is affected by the growth of developed countries such as the US, Europe, and China,” he said.
On inflation, Tengku Zafrul said that Malaysia is still within 2.3% to 3.3% forecast this year