THE economy may be facing intense challenges but it is certainly not going to crash this year as some fear, said Ong Kian Ming.
The deputy international trade and industry minister said the economy may be slowing but a recession is not on the horizon.
A rising trend in trade figures, including in manufacturing sales, and growth in employment show the economy is able to overcome challenges driven by internal and external factors.
“There seems to have been an increase in the number of opinion pieces and articles prognosticating a gloomy future for the Malaysian economy in 2019.
“While there are certainly economic challenges ahead driven by internal and external factors, the perception that the Malaysian economy will somehow crash and burn in 2019 is most certainly a false one,” he said in a statement.
“It is important to remember not to panic without understanding the underlying numbers. A recession is nowhere on the horizon for the Malaysian economy.”