GDP expected to grow 6.3 -7.5 pct next year
KUALA LUMPUR: International agencies have forecasted that Malaysia’s gross domestic product (GDP) in 2021 will be in the range of 6.3 per cent to 7.5 per cent, says Tengku Datuk Seri Zafrul Abdul Aziz. The Finance Minister said the projections are subject to Malaysia’s continued success in managing Covid-19, as well as in steering and […]
Significant economic multiplier effect
KUCHING: The proposed petrochemical hub in Bintulu should be welcomed and supported by all Sarawakians. Sarawak Indian Chamber of Commerce and Industry deputy president and Miri Indian Association president Karambir Singh said its potential to eventually create 74,000 jobs and the prospect of eventually adding up to RM20 billion per annum to the state’s gross […]
A bold and far-sighted initiative
KUCHING: The development of Sarawak Petrochemical Hub (SPH) has been described as a bold and far-sighted initiative. The initiative by Chief Minister Datuk Patinggi Abang Johari Tun Openg would augur well for the downstream activities of the state’s oil and gas industry, said industry sources. “The SPH will not only provide 74,000 new job opportunities […]
Joint efforts needed to thrive
KUCHING: The state and federal governments have to work closely together in order for the tourism sector to thrive. Sarawak Tourism, Arts and Culture Minister Datuk Abdul Karim Rahman Hamzah explained that tourism was not simply a matter of opening up an attraction and expecting people to visit. “There are so many things that come […]
Modest improvement expected in Q3 GDP with stimulus package
KUALA LUMPUR: The effects of Malaysia’s stimulus package should be seen in the third quarter of 2020’s (Q3 2020) gross domestic product (GDP) performance, said AmBank Research group chief economist and head of research Dr Anthony Dass. He said the modest improvement expected in Q3 2020 would come after the anticipated worst quarterly growth in […]
Japan slides into recession — with forecasts of worse to come
By Kyoko Hasegawa TOKYO: Japan dived into its first recession since 2015, according to official data Monday, with the world’s third-largest economy shrinking by 0.9 per cent in the first quarter as it wrestles with the fallout from the coronavirus. The drop in gross domestic product followed a 1.9-per cent decline in the fourth quarter […]
Malaysia’s GDP to grow 9 per cent in 2021
KUALA LUMPUR: The International Monetary Fund (IMF) has projected Malaysia’s real gross domestic product (GDP) to grow at a rate of nine per cent next year, the fastest among the Asean-5 countries which are expected to see a combined GDP growth of 7.8 per cent. Besides Malaysia, Asean-5 includes Indonesia, Thailand, the Philippines and Vietnam which are set to […]
Global growth to contract by 3 pct in 2020
KUALA LUMPUR: Triggered by the Covid-19 pandemic, the global economy may likely undergo its worst recession since the Great Depression in the 1930s, and far worse than the 2009 global financial crisis, the International Monetary Fund (IMF) said yesterday. “This is a crisis like no other, and there is substantial uncertainty about its impact on people’s […]
World Bank expects Covid-19 to have impact on Malaysian GDP
KUALA LUMPUR: Malaysia’s gross domestic product (GDP) is projected to contract by 0.1 per cent to 4.6 per cent this year amid negative impact brought by Covid-19, according to the World Bank. Its senior economist, finance, competitiveness, and innovation global practice, Smita Kuriakose, said the impact on Malaysia’ economy was likely to be large looking due to Covid-19’s adverse impact on foreign direct […]
Asia-Pacific’s GDP may lose up to $172 bln
MOSCOW: The coronavirus pandemic may cost the Asia-Pacific region 0.8 per cent of the gross domestic product or, equivalently, $172 billion due to a weakened global demand for their exports alone, the UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in a report published on Wednesday. According to the Economic and […]
