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KUALA LUMPUR - Malaysia is resilient to the impact of trade disruptions in the Strait of Hormuz via supply chain adjustments, cost absorption by firms and government policy measures that help limit the transfer of costs to domestic prices, said Economy Minister Akmal Nasrullah Mohd Nasir.
He said that, as an open economy, the country is not immune to the spillover effects, but the situation is being closely monitored and managed through the government’s early intervention measures.
"The government stays committed, and the priority is to protect the people, ensure basic supplies remain stable, help industries continue to operate and strengthen the country’s economic resilience,” he said during the question-and-answer session in the Dewan Rakyat today.
He was replying to questions from Datuk Richard Rapu @ Aman Anak Begri (GPS-Betong), Datuk Seri Hasni Mohammad (BN-Simpang Renggam) and Datuk Seri Sh Mohmed Puzi Sh Ali (BN-Pekan) regarding the impact of the closure of the Strait of Hormuz on Malaysia’s economy and trade.
Akmal Nasrullah said the country’s economic fundamentals remain resilient, with gross domestic product growing by 5.4 per cent in the first quarter of 2026, supported by strong domestic demand.
"The government has implemented intervention measures across four main clusters, including protecting the people and stabilising supply and prices to ensure basic supplies remain sufficient, helping industries continue operating, and strengthening the country’s economic resilience.
"Besides, the government is monitoring the supply and prices of essential goods daily. Coordination is also being undertaken with Petroliam Nasional Bhd (Petronas) and industry players to ensure the continuity of the country’s energy supply, in addition to diversifying the sources of raw material supply,” he said.
He said the government is also strengthening targeted assistance and subsidies to reduce the pressure on the cost of living, including through the Sumbangan Tunai Rahmah, BUDI MADANI RON95 and BUDI MADANI Diesel, the Subsidised Diesel Control System, and assistance to vulnerable groups.
In the context of the 13th Malaysia Plan, he said the government’s focus is not only on managing the current crisis but also on ensuring the country’s economy is better prepared to face future global shocks by strengthening trade and investment diversification.
"This measure is important so that the country has a wider choice of supplies in the event of prolonged global disruption,” Akmal Nasrullah said.
The government does not consider the global economic risks to have completely subsided, despite more positive diplomatic developments at the international level, he added. - BERNAMA
