GDP expands better-than-expected at 5.6%
KUALA LUMPUR: Malaysia’s economy recorded a better-than-expected expansion of 5.6 per cent in the first quarter of 2023 (1Q 2023) driven mainly by private sector expenditure. Bank Negara Malaysia (BNM) governor Tan Sri Nor Shamsiah Mohd said the growth in 2023 was supported by further expansion of household spending, continued investment activity, improving labour market […]
Halal industry to expand to US$113.2 bln by 2030: Tengku Zafrul
KUALA LUMPUR: Malaysia’s halal industry is projected to expand to US$113.2 billion (US$1=RM4.43) by 2030, with a gross domestic product (GDP) contribution of 8.1 per cent by 2025 through the Halal Industry Master Plan 2030 (HIMP 2030). International Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the ministry is fully committed […]
Sarawak to have 23 new digital economy centres
BY NATASHA JEE & ALEXANDRA LORNA KUCHING: Sarawak will have an additional 23 Digital Economy Centres (PEDi) this year. Deputy Minister of Communications and Digital Teo Nie Ching said the ministry’s target for this year was to set up the 23 PEDi in the state. “Currently, Sarawak has 133 PEDi, and it is our intention […]
Film makers laud Digital Content Fund grant
KUCHING: Two local film makers, Samuel Wong from FilmCo and Iain Raphael from IAINWITHEYES Studios welcomed the proposed RM102 million allocation for the Digital Content Fund. Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced the grant when he presented Budget 2023 recently. During the tabling of the budget, Anwar said the fund would […]
Budget 2023: Hits and misses
‘In public administration, there is no connection between revenue and expenditure.’ — Ludwig von Mises (1881-1973), economist. While the 2023 budget may have met some expectations previously outlined, it falls woefully short in several critical areas, particularly in creating a secure foundation for spending and revenue. It’s a disappointing result from a government that should […]
Fitch Solutions retains 4% GDP growth forecast
KUALA LUMPUR: Fitch Solutions Country Risk and Industry Research (Fitch Solutions) has reiterated its forecast for Malaysia’s real gross domestic product (GDP) growth to slow to 4.0 per cent in 2023 from 8.7 per cent last year. It said that following the lower year-on-year growth of 7.0 per cent in the fourth quarter of 2022 […]
Economist expects moderate GDP growth of 4.7 pct
KUALA LUMPUR: Malaysia’s economy is expected to grow at a moderate pace of 4.7 per cent this year amidst a gradual decline in inflation, softening monetary policy and subpar commodity prices, an economist said. Nonetheless, ANZ Bank chief economist (Southeast Asia and India), Sanjay Mathur projected the gross domestic product (GDP) growth to remain quite […]
Total trade value of RM268.1bil from agricommodity sector in 2022
KUCHING: The agricommodity sector recorded a total trade value of RM268.1bil while the trade balance recorded about RM146.5bil in 2022. Federal Minister of Plantation and Commodities (KPK) Datuk Seri Fadillah Yusof also pointed out that the export income of agricommodity products was about RM207.3bil or 13.4 per cent of the country’s total export income. “Although […]
Agricommodity sector contributes RM61.3 bln to GDP up till Q3 2022
PUTRAJAYA: The agricommodity sector has contributed RM61.3 billion to the country’s Gross Domestic Product (GDP) up until the third quarter of this year, said Deputy Prime Minister Datuk Seri Fadillah Yusof. Fadillah, who is also the Minister of Plantations and Commodity, said the sector also recorded a total export of RM160.6 billion and provided job […]
High inflation expected to persist
ANKARA: The United States Congressional Budget Office (CBO) said Wednesday it expects high inflation to persist into 2023 and 2024, according to its Budget and Economic Outlook report. The non-partisan federal agency said it estimates annual consumer inflation will average 6.1 per cent this year and then slow down to 3.1 per cent next year and later down […]
