He lauded the government’s success in easing inflation and reducing the unemployment rate despite the fluctuations in the ringgit.

“Our economy’s quarter-to-quarter growth is increasing, so macro-economically, things are looking good.

“The challenge now is how to manifest and translate these economic achievements to a more micro level.

“The question is how they directly or indirectly positively affect the welfare of the people,” he said at a press conference after officiating the PKR Youth congress at the Putrajaya International Convention Centre.

Adam said he was confident that the Madani Economy framework would address this challenge as its focus is to eradicate hardcore poverty.

“In other words, we have already set a clear goal centred on the interests of the people, not just on large projects,” he said.

Earlier today, former prime minister Ismail Sabri Yaakob had also said that economic indicators such as economic growth, inflation and unemployment rates had little bearing or significance for the general public.

He said people were more concerned about the price of goods and wages.

Ismail said Malaysia was among the four countries in Southeast Asia that recorded moderate growth and saw a drop in unemployment, as well as managed to keep inflation low.

However, he said the reality on the ground did not reflect real growth.