Govt May Revise GDP Forecast After US Tariff Talks - PM Anwar
KUALA LUMPUR, May 5 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim said the government is considering revising the gross domestic product (GDP) growth forecast set in Budget 2025 after gaining more clarity from Malaysia's negotiations with the United States (US) on the tariffs.
Describing the situation as dynamic, Anwar, who is also the Finance Minister, explained that it is highly likely the country will not achieve the GDP growth forecast for this year, which is between 4.5 per cent and 5.5 per cent.
“The Finance Ministry and Bank Negara Malaysia are looking into the impact of the tariffs and will review the GDP growth forecast once there is more certainty about the implementation of President Trump’s tariff policies and the results of negotiations with the US,” he said during a Special Parliamentary Meeting on the US tariffs today.
He added that since the MADANI Government has acted proactively after the US announced the implementation of its import tariffs on April 2.
These include the establishment of the National Geo-Economics Action Centre (NGCC) on April 4, chaired by him and led by the Ministry of Investment, Trade and Industry (MITI) as the secretariat, involving various ministries and relevant agencies.
Anwar said the NGCC, which serves as an integrated platform involving multiple agencies to monitor, assess, and coordinate responses to changes in the global trade landscape, tariff shocks, and non-tariff barriers, has already convened three times.
-- BERNAMA