Strong 3Q GDP puts Malaysia on track for 4.8 -5.3% growth in 2024

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim said Malaysia’s strong economic performance in the third quarter (3Q) of 2024 reflects both business and consumer confidence in the Malaysian economy and the government’s economic management. The Ministry of Finance (MOF) in a statement today noted that the 5.3 per cent gross domestic product (GDP) growth recorded...

Targeted EPF withdrawal will worsen insufficiency of retirement savings, says Finance Ministry

KUALA LUMPUR: Any new additional pre-retirement withdrawals, whether targeted or open, will further exacerbate the issue of insufficient retirement savings, which is currently at a very alarming level, the Finance Ministry said. The ministry said it is also not a solution to the increasing financial burden of the people. "As of Sept 30, 2023, a total of...