SMEs expected to recover
SMALL and medium enterprises (SMEs) are expected to recover and continue to contribute significantly to Gross Domestic Product (GDP), exports and employment. Deputy Premier cum International Trade, Industry and Investment Minister Datuk Amar Awang Tengah Ali Hassan said that with the timely provision of assistance (both financial and non-financial) from the federal and Sarawak governments, […]
10 recommendations to empower endemic management system
KUALA LUMPUR: The Parliamentary Select Committee on Health, Science and Innovation has recommended 10 proposals to strengthen the Covid-19 Management System at the endemic level. Its chairman Dr Kelvin Yii Lee Wuen said among the proposals was that the governments increase the budget allocation for the health system to four percent of the country’s Gross […]
Digital economy to contribute 25.5 pct to GDP by 2025
KUALA LUMPUR: The digital economy is expected to contribute 25.5 per cent to the country’s gross domestic product (GDP) by 2025, according to the 12th Malaysia Plan (12MP) document released by the Economic Planning Unit (EPU) today. The contribution of e-commerce activities to the GDP, meanwhile, is targeted at 10.5 per cent under the country’s […]
Tourism receipts drop 71.2 percent to rm52.4 billion last year
KUALA LUMPUR: Malaysia’s tourism receipts recorded a drop of 71.2 percent to record RM52.4 billion in 2020 compared to RM182.1 billion in 2019, according to Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin. He said 2020 is the second year that domestic tourism receipts exceeded the inbound tourism receipts with a contribution of 73.8 percent or RM38.6 billion. “Simultaneously, […]
Raising Covid-19 fund ceiling, statutory debt limit to help people, businesses
KUALA LUMPUR: The government’s proposal to raise the ceiling cap for the Covid-19 Fund and the statutory debt limit is aimed at supporting the people and businesses during the reopening of the economy. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the proposal will be implemented immediately after being approved by the Parliament. […]
Fitch affirms Malaysia’s sovereign rating at BBB+, outlook stable
KUALA LUMPUR: Fitch Ratings has affirmed Malaysia’s long-term foreign currency issuer default rating (IDR) at “BBB+” with a stable outlook. In a note released today, Fitch said Malaysia’s economy is gradually recovering from a contraction of 5.6 percent in 2020 caused by the Covid-19 pandemic even though social distancing measures have been tightened over recent […]
Malaysia’s 2021 fiscal deficit to hover between 6.7-7 pct of GDP
KUALA LUMPUR: Malaysia’s fiscal deficit is expected to go up to between 6.5 and seven per cent of its gross domestic product (GDP) this year from the six per cent targeted earlier, after factoring in the recent stimulus packages announced by the government. Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said the government is […]
Malaysia to revise 2021 GDP growth forecast downwards
PUTRAJAYA: Malaysia’s Gross Domestic Product (GDP) forecast for 2021 will be revised downwards, taking into account the impact of the full movement control order, said Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz. “The new forecast is expected to be announced in mid-August, together with a widened deficit figure,” he told a news conference here […]
Malaysia’s diverse exports to help mitigate lockdown impact
KUALA LUMPUR: Malaysia’s diverse export destinations and products should help to mitigate the impact of a prolonged national lockdown through the end of June, Moody’s Investors Service said today. Malaysia imposed the nationwide movement control order (MCO 3.0) starting June 1 after daily cases hit 8,000. From an initial two weeks, it was extended for […]
Malaysia to see 6.0-7.5 PCT GDP if Covid-19 contained
KUALA LUMPUR: Malaysia can achieve its 2021 its gross domestic product (GDP) growth target of between 6.0 and 7.5 per cent if the Covid-19 health crisis can be stabilised after the eventual lifting the movement control order (MCO 3.0). Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said the availability of vaccines […]
