Kuala Lumpur: Prime Minister Datuk Seri Anwar Ibrahim announced that the Malaysian government is contemplating a revision of the GDP growth forecast for Budget 2025. This consideration comes in light of ongoing negotiations with the United States regarding tariffs.

According to BERNAMA News Agency, Anwar, who also serves as the Finance Minister, mentioned that the country is unlikely to meet the current GDP growth forecast of 4.5 to 5.5 percent for this year. The Finance Ministry and Bank Negara Malaysia are actively assessing the impact of US tariffs and plan to reevaluate the GDP forecast once there is more clarity on the implementation of President Trump’s tariff policies and the outcome of the negotiations.

During a Special Parliamentary Meeting on US tariffs, Anwar highlighted proactive measures taken by the MADANI Government following the US’s announcement of import tariffs on April 2. These initiatives include the formation of the National Geo-Economics Action Centre (NGCC) on April 4. The NGCC, chaired by Anwar and led by the Ministry of Investment, Trade and Industry (MITI) as the secretariat, involves collaboration among various ministries and agencies.

Anwar further elaborated that the NGCC acts as an integrated platform to monitor, assess, and coordinate responses to shifts in the global trade environment, tariff shocks, and non-tariff barriers. The center has convened three times to date, underscoring the government’s commitment to addressing these challenges.