Skip to main content

Malaysia's GDP Growth Between -2% To 0.5% In 2020 - Bank Negara



Malaysia’s GDP growth is projected to be between -2.0% and +0.5% in 2020, affected by weak global demand, supply chain disruptions and COVID-19 containment measures both abroad and domestic.

 While the Movement Control Order and measures to promote social distancing will dampen economic activity temporarily, they are necessary to contain the spread of the virus.

 The Government’s stimulus package will help to cushion the economic fallout.

 Both Pakej Rangsangan Ekonomi 2020 and Pakej Rangsangan Ekonomi Prihatin Rakyat as well as the Bank’s financial measures will provide sizable support to households and businesses.

 These measures are expected to add 2.8 percentage points to 2020 GDP growth.

 Also supporting growth is the ongoing large-scale infrastructure projects, which are expected to provide an additional 1 percentage point lift to growth in 2020.

 There remain significant uncertainties surrounding the growth outlook, with both upside and downside risks to the outlook.

 Downside risks stem from a more prolonged and wider spread of COVID-19 globally and domestically, recurring commodities supply disruptions and tighter financial conditions following heightened volatility in financial markets.

 However, there are also upside risks, emanating from potentially larger-than-expected impact from the pro-growth measures, faster normalisation in activity amid pent-up demand and better-than-expected global economy, arising from the various stimulus measures.

 The Bank expects the Malaysian economy to rebound in 2021, in line with the projected global recovery.

 The health crisis is rapidly evolving and the Bank will continue to monitor and assess the development of the pandemic and its economic impact.

 Source: Bank Negara Malaysia (www.bnm.gov.my)



Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Birds sing after a storm

  Rose Kennedy Birds sing after a storm; why shouldn't people feel as free to delight in whatever sunlight remains to them? - Rose Kennedy You may delay, but time will not. - Benjamin Franklin Of all the preposterous assumptions of humanity over humanity, nothing exceeds most of the criticisms made on the habits of the poor by the well-housed, well-warmed, and well-fed. - Herman Melville There is no abstract art. You must always start with something. Afterward you can remove all traces of reality. - Pablo Picasso If you really want something, and really work hard, and take advantage of opportunities, and never give up, you will find a way. -Jane Goodall The trouble with jogging is that the ice falls out of your glass. -Martin Mull A desk is a dangerous place from which to watch the world. -John le Carre Rogues are preferable to imbeciles because they sometimes take a rest. -Alexandre Dumas As soon as you trust yourself, you will know how to live. - Johann Wolfgang von Goethe, Faust...
Post a Comment
Read more

10 Quotes

WORDS -10 QUOTES  The truth is more important than the facts. - Frank Lloyd Wright It is no good to try to stop knowledge from going forward. Ignorance is never better than knowledge. - Enrico Fermi It's a poor sort of memory that only works backward. - Lewis Carroll Drama is life with the dull bits cut out. - Alfred Hitchcock Curious things, habits. People themselves never knew they had them. - Agatha Christie The dead might as well try to speak to the living as the old to the young. - Willa Cather Success in business requires training and discipline and hard work. But if you're not frightened by these things, the opportunities are just as great today as they ever were. - David Rockefeller Today you can go to a gas station and find the cash register open and the toilets locked. They must think toilet paper is worth more than money. - Joey Bishop If you wouldst live long, live well, for folly and wickedness shorten life. ...
Post a Comment
Read more

The most wasted of all days

  The most wasted of all days is one without laughter. - e e cummings One can never consent to creep when one feels an impulse to soar. - Helen Keller A Hospital is no place to be sick. - Samuel Goldwyn The world belongs to the energetic. - Ralph Waldo Emerson [Common sense] is the best sense I know of. - Lord Chesterfield You've got to be original, because if you're like someone else, what do they need you for? - Bernadette Peters, Inside the Actors Studio A man is not idle because he is absorbed in thought. There is a visible labor and there is an invisible labor. - Victor Hugo Perpetual devotion to what a man calls his business, is only to be sustained by perpetual neglect of many other things. - Robert Louis Stevenson Habit is habit and not to be flung out of the window by any man, but coaxed downstairs a step at a time. - Mark Twain He who would travel happily must travel light. - Antoine de Saint-Exupery READ MORE NICE
Post a Comment
Read more