Under the patronage of the 17th Yang di-Pertuan Agong Sultan Ibrahim Sultan Iskandar, the government and the people will weather global economic fluctuations through new sustainable initiatives to ensure the well-being of the people, said Prime Minister Anwar Ibrahim.

He said the firm measures, as outlined in the Madani Economy framework, had brought about an encouraging growth rate forecast of 5.8 percent for the second quarter of this year (Q2 2024).

“This fresh momentum underpinned the trade value figure of RM1.396 trillion.

“The value of new investments approved was RM83.7 billion for the Q1 2024, 13 percent higher compared with RM74.1 billion for the same quarter a year ago,” he said while expressing his congratulations and loyalty on the occasion of the installation of Sultan Ibrahim as the 17th monarch at the Istana Negara in Kuala Lumpur today.

Sultan Ibrahim took the oath of office as the 17th Yang di-Pertuan Agong on Jan 31.

Yesterday, the Statistics Department Malaysia (DOSM) projected the country’s gross domestic product (GDP) to grow 5.8 percent in 2Q2 2024, up from 4.2 percent in the previous quarter, the highest since Q2 2022 at 7.4 percent.

According to the DOSM website, the official GDP data will be announced on Aug 16, 2024.

- Bernama

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