The boycott movement on foreign businesses and products is not seen to have a significant impact on the national economy, the Ministry of Economy said.
Through a reply posted on the Parliament’s website today, the ministry said the boycott has not impacted the economy since the contribution of the food and beverage subsector to the gross domestic product (GDP) is small, which is 2.4 per cent in the first quarter of 2024.
Ministry of Economy: Boycotts no significant impact on economy
The government will continue to work to ensure that the country’s economy continues to grow and is not affected by any boycott movements, said the ministry.
The economic structural reforms that are being implemented are expected to support economic growth targets to accelerate the transition towards making Malaysia a high-income country, it noted.
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