Kuala Lumpur (VNA) - Malaysia’smodest gross domestic product (GDP) growth of 4.3 percent in 2019 is consideredbetter than some of its neighbours, said Economic Affairs Minister Datuk SeriAzmin Ali.

OtherASEAN countries, while most of it registered higher growth, had missed their2019’s projection.

Last year, Singapore’seconomy grew 0.7 percent, the slowest in a decade, while the Philippines missed its6.0 to 6.5 percent target to register 5.9 percent GDP expansion, the lowest ineight years, he said, adding Indonesia’s GDP rose 5.02 percent, short of thegovernment’s 5.3 percent target.

Azminsaid the trend was also seen in parallel with the growth of other Asiancountries.

The overall performance of the Malaysian economy was moderated by the slowdownin the global economy in line with the slowdown in global trade activity, heexplained.

Azmin said domestic economic growth prospects for 2020 might be affected by therecent coronavirus disease (COVID-19) outbreak, which may cause global supply disruption.

The sectorsthat will be impacted include tourism, transportation and manufacturingindustries.

He said tomitigate the adverse impact and ensure continuation of the people's well-being,the government was taking proactive measures. They are meant to boost domesticeconomic activity while also promoting exports, especially for the health care,electricity and electronics, and pal oil related products.

Besides,an economic stimulus package is being finalised to support economic growthwhile at the same time prioritising the well-being of the residents.

He said inaddition, the government's move to reduce toll rates and ensure a stable petrolprice was expected to help ease the people's burden while strengthening domestictourism.

Bank Negara Malaysia’s move to reduce the Overnight Policy Rate to2.75 percent on January 22 would also support the growth of the domesticeconomy this year, he added./.