KUALA LUMPUR, Aug 12 — The stellar gross domestic product growth of 8.9 per cent in the second quarter , which brought GDP growth in the first half of the year to 6.9 per cent, suggests an “equally strong third quarter growth,” said Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz.
Tengku Zafrul said Malaysia’s economy has continued its recovery momentum, as the 8.9 per cent growth in the second quarter had exceeded the 5 per cent expansion in the first quarter and outperformed the economic performance of several developed and regional countries, including China , the United States , European Union and Singapore .
Nonetheless, he said the government remains cautious on the second half of year performance, “as the economic outlook is still subjected to risks of slower growth due to global economic uncertainty, caused primarily by the prolonged Russia-Ukraine conflict, as well as China’s economic slowdown following the implementation of strict Covid-19 containment measures.”