Malaysia declares economy revived at IMF-World Bank meetings

During the IMF-World Bank Group Annual Meetings held at the Queen Sirikit National Convention Centre in Bangkok, Finance Minister Amir Hamzah Azizan announced that Malaysia has restored its economic momentum, emphasizing political stability and clear policies as drivers of renewed foreign direct investment. He cited two years of 5.2% GDP growth and a 5.7% increase in the most recent quarter, underscoring the resilience of Malaysian industries in global supply chains.

The minister outlined recent reforms, including the Fiscal Responsibility Act, Government Procurement Act and pending legislation on subsidies and government-linked enterprises, aimed at boosting transparency and investor confidence. He pointed to the successful US$1.5 billion global sukuk issuance, which was oversubscribed 4.7 times, as evidence of strong market interest. Further, he said the government is working to ensure that growth translates into higher wages, skills development and expanded roles for domestic businesses, while leveraging AI and digitalisation to raise productivity and create higher-value jobs. The overarching goal, he said, is to build a high-income economy that shares prosperity more broadly across Malaysians and future generations.