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Malaysia sees signs of economic recovery in second quarter

The Malaysian government will decide whether to revise its growth target of between 6 percent and 7.5 percent this year based on the gross domestic product (GDP) performance for the second quarter, as the economy is seeing signs of recovery, said an official.
Malaysia sees signs of economic recovery in second quarter ảnh 1The Malaysian government will decide whether to revise its growth target of between 6 percent and 7.5 percent this year based on the GDP performance for Q2 (Photo: themalaysianreserve)
Kuala Lumpur (VNA) – The Malaysian government willdecide whether to revise its growth target of between 6 percent and 7.5 percentthis year based on the gross domestic product (GDP) performance for the second quarter, as the economy is seeing signs of recovery, said an official.

At a press conference on June 17, Senior Minister and InternationalTrade and Industry Minister Azmin Ali said the Bank Negara Malaysia (BNM) andthe Ministry of Finance are currently looking at the details of the Q2performance, given that the ongoing total lockdown would have some effects onthe economy.

He said signs of recovery in Q2 havebeen seen such as trade performance and foreign direct investment is coming in, reflecting theconfidence level of foreign investors in Malaysia.

Citing an example, he said last week, the Australian-basedAT&S decided to invest 8.5 billion RM in Malaysia by setting up a newfacility in the Kulim Hi-Tech Park, Kedah.

He expressed his belief that if the country could acceleratethe immunisation programme and reach herd immunity, it would have a positiveeffect on the economic recovery./.
VNA
#Malaysian government#Bank Negara Malaysia#foreign direct investment#immunisation programme#herd immunity#economic recovery#vietnamplus#vietnam news agency
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