Country to navigate economic challenges with new initiatives under Sultan Ibrahim’s patronage, says Anwar

KUALA LUMPUR: Under the patronage of the 17th Yang di-Pertuan Agong Sultan Ibrahim, the country will navigate the complexities of the global economic turmoil through new sustainable initiatives to ensure the welfare of the people, said Prime Minister Datuk Seri Anwar Ibrahim.

According to Bernama, he stated that decisive steps outlined in the MADANI Economic Framework have already projected an encouraging economic growth rate of 5.8 percent for the second quarter of this year.

“This fresh momentum is further supported by trade figures amounting to RM1.396 trillion.

“Meanwhile, the value of newly approved investments stands at RM83.7 billion for the first quarter of this year, which is 13 percent higher compared to RM74.1 billion last year,” Anwar said during his congratulatory and loyalty speech at the installation of Sultan Ibrahim as the 17th Yang di-Pertuan Agong at the National Palace today.

The installation ceremony of Sultan Ibrahim as the 17th Yang di-Pertuan Agong took place at the Balairung Seri of the National Palace today.

Sultan Ibrahim took the oath and signed the oath of office as the Seri Paduka Baginda Yang di-Pertuan Agong on January 31.

Yesterday, the Department of Statistics Malaysia (DOSM) projected that Malaysia’s Gross Domestic Product (GDP) would grow by 5.8 percent in the second quarter of 2024, up from 4.2 percent in the previous quarter and the highest growth since 7.4 percent in the second quarter of 2022.

According to the DOSM website, the official announcement of the GDP for the second quarter of 2024 will be made on August 16.