KUALA LUMPUR: The Prime Minister has expressed his satisfaction over the country’s second-quarter gross domestic growth in the second quarter which shranked 3.9%, an improvement from the first quarter when it contracted 6.2%.
“I am pleased in the sense that the worst is over,” Datuk Seri Najib Tun Razak told reporters after his visit to the World Islamic Economic Forum Foundation (WIEF) permanent secretariat here Thursday.
He was asked to comment on the country’s second-quarter GDP contracted at a slower pace due to higher public spending and positive growth in private consumption.
Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz, who made the announcement on Wednesday, attributed the improved domestic demand to the emphasis on private consumption, which increased 0.5% (first quarter: minus 0.7%).
Najib said the stimulus package contributed to the improved performance of the Malaysian economy.
“Looks like we are on the right track in terms of recovery,” he said.
Asked whether the Government would upgrade its growth forecast for the year, he said :”Wait for the budget.”
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