Najib attributes strong fundamentals to 2017 Q1 growth

(Updated )

Prime Minister Najib Abdul Razak said the strong fundamentals built by the government had enabled the country's economy to record a robust growth of 5.6 percent in the first quarter of this year.

"Alhamdulillah, the strong foundation that we have built enables the country's economy to grow vigorously at the rate of 5.6 percent in the first quarter.

"Nevertheless, we will not be complacent but continue to work to ensure that our economy continues to grow from time to time," Najib said in his latest posting on his Twitter and Facebook, tonight.

Earlier, Bank Negara Malaysia governor Muhammad Ibrahim said growth for the just ended quarter was the best since the corresponding quarter of 2015, which saw gross domestic product at 5.8 percent.

During the the first quarter of this year, domestic demand increased to 7.7 percent, supported by continued expansion in private sector expenditure, which grew by 8.2 percent and the turnaround in public sector expenditure.

Private consumption rose 6.6 percent, while investments grew sharply by 12.9 percent following continued capital spending in the services and manufacturing sectors.

Investments in machinery and equipment were higher during the quarter, supported by the implementation of several large-scale projects in the manufacturing sector.

- Bernama


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