Kuala lumpur: 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.
According to BERNAMA News Agency, Economy Minister Akmal Nasrullah Mohd Nasir stated 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 mentioned during the Ministry of Economy's monthly assembly.
However, Akmal Nasrullah emphasized that the ministry's success should not be measured solely by its spending rate, but by how its policies, programmes, and development projects enhance the quality of life. He noted that the government would continue to closely monitor the country's economic developments, despite the second quarter's economic growth estimate of 5.8 percent exceeding expectations.
He further remarked that the economic growth for the year's first half was 5.6 percent, surpassing the International Monetary Fund's forecast of 4.7 percent. Nevertheless, he stressed the importance of vigilance due to ongoing global economic uncertainties.
"Factors requiring close attention include the high growth base in the first half of this year, the potential of a super El Ni±o phenomenon, geopolitical uncertainties, energy price fluctuations, and any disruptions to food supply chains that could influence inflation and economic activity," he explained.
Akmal Nasrullah also highlighted that inflation remained controlled at 1.9 percent in June, a slight decrease from 2.0 percent in May. The unemployment rate held steady at around 3.0 percent, with 16.82 million people employed out of a total labor force of 17.34 million. Additionally, the country's trade value in June reached a record monthly high of RM184 billion, with the semiconductor sector being a significant contributor to national exports.
Discussing the ministry's priorities for the second half of 2026, he outlined that the Ministry of Economy would concentrate on addressing structural economic issues, such as enhancing productivity, creating more high-skilled jobs, and ensuring that economic growth leads to higher incomes for the population.