KUALA LUMPUR: Prime Minister Datuk Seri Ismail Sabri Yaakob today assured that the government's priority in the medium term is to implement structural reforms that will enhance the country's economic potential, resilience and prospects as well as make Malaysia a more attractive investment destination.
He said the government's measures and commitment would promote more sustainable and inclusive economic growth for all Keluarga Malaysia.
"Going forward, the government will continue to monitor the development of various economic risks and ensure the effectiveness of policy decisions in managing external shocks which can affect the well-being of Keluarga Malaysia," he said at the Barisan Nasional Convention here today.
Although the country's economy is on a strong footing, the government is taking a cautious approach to the latest global developments that have the potential to pose a risk to the country's economic growth, said Ismail Sabri.
"For example, geopolitical tensions have resulted in economic pressure in various aspects, particularly the increase in global inflation due to rising commodity prices," he added.
Nevertheless, Ismail Sabri said the government was constantly monitoring the latest situation in the Russia-Ukraine conflict and remained committed in implementing proactive measures through the modification of certain policies, in line with the changing global economic scenario which is usually "beyond our control".
He said that should the Russia-Ukraine conflict continue, it would have implications on the commodities and also affect the prices of goods while the action of some countries such as India and Indonesia to stop food exports would worsen the situation.
The Prime Minister said the government was also taking a cautious approach to the latest global developments which could potentially pose a risk to growth.
"For example, geopolitical tensions have resulted in economic pressure in various aspects, especially the increase in global inflation due to rising commodity prices.
"As an open economy with the total value of foreign trade accounting for almost 120 per cent of Gross Domestic Product, Malaysia is no exception to the effects of geopolitical tensions and global climate change," he added.
-- BERNAMA
Bernama
Wed Jun 01 2022
Prime Minister Datuk Seri Ismail Sabri Yaakob today assured that the government's priority in the medium term is to implement structural reforms that will enhance the country's economic potential, resilience and prospects. - Astro AWANI
Who is Prabowo Subianto, incoming president of Indonesia?
A wealthy ex-general with ties to Indonesia's popular outgoing president and its dictatorial past, looks set to be its next leader.
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.