MALAYSIA will continue to be vigilant despite stronger gross domestic product (GDP) growth recorded in the second quarter of this year, said Economic Affairs Minister Mohamed Azmin Ali.

He said the GDP data also indicated that Malaysia’s economy remained resilient despite being exposed to global uncertainties.

“Malaysia had bucked the regional trend during the second quarter of 2019, as the economy experienced outstanding growth of 4.9%, supported by steady domestic demand, particularly private consumption and a strong recovery in the production of mining and quarrying sector.

“Nevertheless, we remain vigilant against any headwinds to come and will maintain fiscal discipline, even as we do our best to spur growth,” he said in his welcoming speech at the opening of the 62nd International Statistical Institute World Statistics Congress in Kuala Lumpur today.

Prime Minister Dr Mahathir Mohamad graced the event and delivered a keynote address.

Azmin also highlighted that sound, relevant and timely statistics should pave the way for policies and decisions to be formulated, as well as guide the government to realign policies that were misguided or misconceived.

“We cannot overstress the importance of the integrity of data. But even more crucial is integrity in the implementation of policies,” he said.

Azmin said even if Malaysia had the best-formulated policies founded on the most precise statistics, without integrity, transparency and accountability in implementation, the final objectives would not be achieved.

“Hence, while statistics are the eyes of the country’s administration, good governance strikes at the heart of fulfilling the legitimate expectations of the people.” 

He also lauded the expertise of the Statistics Department, which he said has provided technical assistance in core areas to other countries while also benefiting from the sharing of experiences and knowledge.

The minister also shared statistics on Malaysia’s urban population, which grew to 76.2% this year from 28.4% in 1970, while the economy has expanded to RM1.36 trillion from RM11.82 billion. 

Additionally, the average monthly household income increased to 7.1% per annum to reach RM6,958 in 2016 compared with RM264 in 1970, he added. – Bernama, August 18, 2019.