Najib: Economic growth exceeded expectations in second quarter

Malaysia's economic growth in the second quarter of the year shows that the country is on the right track, says Prime Minister Datuk Seri Najib Tun Razak.

He said the economy had done well and ‘exceeded expectations’ by expanding at a faster pace of 6.4% in the second quarter between April and June.

This is compared to 6.2% growth recorded in the first quarter of the year.

"Hence, it is important for us to intensify our efforts so that our goal (of becoming a developed nation) will become a reality," Najib said in his speech at the Hari Raya celebration and annual general meeting of the Gagasan Wawasan Generasi Felda (GWGF) Monday.

It was reported that the country's Gross Domestic Product (GDP) of 6.4% in the second quarter was largely due to the strong growth in the services and manufacturing sectors.

Bank Negara Malaysia had said the economic growth was underpinned by higher exports and continued strength in private domestic demand.

Forecasts by economists had expected a growth of 5.8% for the second quarter.

During the event, Najib thanked the GWGF and Felda settlers for helping the Barisan Nasional win in the last general election.

"I hope that you will give us suggestions on how we can improve the standard of living and help increase the income level among Felda settlers and the new generation," he told the crowd, mostly consisting of GWGF members.

During the celebration, Najib also gave away awards for a golf tournament held among GWGF.