Press Statement by YB Chong Chieng Jen
The strong 4.9% GDP Growth for Q2 2019 after the 4.5% Growth for Q1 2019 is an indication that the economy of Malaysia is on the right direction and on the path of recovery.
The Q219 strong growth performance exceeded the forecast of most economists about the Malaysian economy. We have also outperformed our neighbour Singapore who suffered a negative growth for the second quarter this year.
What makes it more applaudable to have achieved such strong growth figure is the facts that we are in the midst of a trade war between China and USA, a weak external demand and anticipated slowdown in global economy, huge property glut a result of the unplanned policy of the previous government and low commodity and crude oil prices.
Despite all the external factors that is not favourable to economic growth, Malaysia succeeded in achieving a 4.9% GDP growth. Such success is attributable to the several focused economic measures of the Pakatan Harapan Government, the expansionary policy and general increased investors’ confidence resulting from a more transparent and clean government.
However, we also note that the positive economic effect may not be felt immediately by the common people on the street. This is because such trend normally takes a few months for the full impact to filter down to every level of the society.
Having proven successful in the general policy and direction of the PH government, we will continue to work hard and stay focused with these general economic policies and good governance.
We hope the people will move forward together with the government and let us together bring the economy of the country to a greater height.
Chong Chieng Jen
Pakatan Harapan Sarawak Chairman