'Failed economy' allegation is baseless - Tengku Zafrul

KUALA LUMPUR: Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz has dismissed the allegation of an 'economic failure' made by several parties recently, saying that such claims are unfounded.

He said the country had recorded an encouraging gross domestic product (GDP) growth in the first half of 2022, and that the positive momentum is expected to continue in the second half of the year.

"Our GDP grew by 5.1 per cent in the first quarter of 2022 (Q1 2022) and 8.9 per cent in Q2 2022, and the unemployment rate is also going down, while Foreign Direct Investments are increasing.

"This does not indicate a failing economy. Facts and numbers don't lie," he told the media after delivering his keynote speech at the 'Developing and Financing Green Housing in Asia' conference here today.

Meanwhile, the finance minister said the MoF will continue to emphasise important structural reforms to strengthen the country's economic resilience for the future, aside from curbing the inflation rate amidst the uncertain economic environment.

-- BERNAMA