Ministry Of Economy Posts Fourth-Best Development Expenditure Performance, Eyes Top Three By Year-End
PUTRAJAYA, July 27 (Bernama) -- The Ministry of Economy recorded the fourth-best development expenditure performance among ministries as of July 21 after spending RM1.214 billion, or 57.42 percent, of its original 2026 development allocation of RM2.115 billion.
This surpassed the national average of 45.93 percent.
Economy Minister Akmal Nasrullah Mohd Nasir said that based on the MyProjek system records, the ministry's performance exceeded the national average, with total development expenditure reaching RM37.18 billion out of the overall RM81 billion development allocation. "Our target is to be among the top three performing ministries by the end of this year," he told the Ministry of Economy's monthly assembly here today.
However, Akmal Nasrullah said the ministry's success should not be measured solely by its spending rate, but rather by the extent to which its policies, programmes and development projects improve the quality of life of the people. He added that the government would continue to monitor the country's economic developments closely, even though the estimated economic growth of 5.8 per cent for the second quarter of 2026 exceeded expectations.
He noted that economic growth for the first half of the year was 5.6 percent, higher than the International Monetary Fund's forecast of 4.7 per cent. Nevertheless, the government must remain vigilant as the country continues to face global economic uncertainties.
"Among the factors that require close attention are the high growth base in the first half of this year, the possibility of a super El Niño phenomenon, geopolitical uncertainties, fluctuations in energy prices, and any disruptions to food supply chains that could affect inflation and economic activity," he said.
Akmal Nasrullah noted that inflation remained under control at 1.9 per cent in June, compared with 2.0 per cent in May, while the unemployment rate remained at around 3.0 per cent, with 16.82 million people employed out of a total labour force of 17.34 million. He said the country's trade value in June also reached a record monthly high of RM184 billion, with the semiconductor sector among the key contributors to national exports.
Commenting on the ministry's priorities for the second half of 2026, he said the Ministry of Economy would focus on addressing structural economic issues, including boosting productivity, creating more high-skilled jobs, and ensuring that economic growth translates into higher incomes for the people.
-- BERNAMA