Malaysia PM Anwar unveils measures to tackle living costs, support local businesses
Malaysian Prime Minister Anwar Ibrahim has been under pressure to tackle higher living costs, even as the country's economy has outperformed most of its regional peers.
PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim announced Malaysia's impressive six percent GDP growth in the second quarter of 2026, a milestone achieved despite the uncertain geopolitical climate, particularly the ongoing conflict in the Middle East. Not even the World Bank or the International Monetary Fund projected such a robust economic performance.
Speaking at the National Day Eve address at the Putrajaya International Convention Centre, Anwar credited the nation's progress to the efforts and leadership built up since independence, and not overnight achievements. He highlighted that approved investments and total trade reached their highest levels since 1957 and 1963, placing Malaysia's competitiveness at the 15th position globally.
Additionally, the Malaysian Ringgit was identified as Asia's best-performing currency in 2025. Anwar emphasized that the government and cabinet colleagues chose the difficult path, focusing on strengthening the country's fundamentals, improving governance, and restoring fiscal discipline. He further noted that Malaysia's ability to maintain peace and unity despite its diversity of race, religion, and culture remains one of the country's greatest strengths, as they bear the responsibility of ensuring a glorious future for the nation.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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