Talks of a fiscal stimulus package has gathered momentum as the Malaysian economy grapples with the impact from the Covid-19 outbreak. The country obviously is not alone in thinking about on how best to stimulate the economy. Singapore, for instance, has targeted their fiscal deficits to widen from 0.3 percent of GDP in FY2019 to 2.1 percent in FY2020. A total of SGD4 billion has been allocated for a Stabilisation and Support Package in 2020 to primarily support the wages of local employees. Malaysia last announced a fiscal stimulus package during the US Sub Prime Crisis in 2008-2009. Back then, two fiscal stimuli wherein introduced in November 2008 and March 2009, totalling RM67 billion or 9.1 percent of GDP. The economy went into recession in 2009 with GDP contracting by 1.5 percent. However, the country’s GDP growth jumped to 7.5 percent in 2010 and thereafter, economic growth was sustained at 5.1 percent between 2011 and 2019.
This story is from the March 2020 edition of Business Today Malaysia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 2020 edition of Business Today Malaysia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Time Aortic Abdominal Aneurysm
The Aortic Abdominal Aneurysm happens when the wall of the blood vessels starts to weaken which forms an Aneurysm that is commonly known as balloon-like dilation.
The Lexus ES 250 Features A New F Sport Variant
The 2022 Lexus ES facelift has arrived in Malaysia- First unveiled at Auto Shanghai 2021 in April this year.
Heading: Try -180°C Therapeutic Treatment Called Cryotherapy To Improve Overall Health
Health has gained a significant attention in this pandemic and being at your best form is a good way to fight the current problems in every aspect of health from fitness, depression, pain management, sports injury, antiageing, weight loss and beauty.
Is It Too Late To Start Investing In Bitcoin?
The noise around Bitcoin has risen sharply in the last month after the world’s most popular cryptocurrency reached its all-time high on 9 November 2021. With all the talk of its price continuing to grow, it is easy to think that it might be too late to start investing in Bitcoin. However, it is not too late and, in fact, Bitcoin adopters are actually early. Bitcoin, and cryptocurrency in general, has received mainstream adoption and looks to be around for years to come.
Smart SBB To Boost Farmers Income
Director-General for the Ministry of Agriculture and Food Industry (MAFI), Azman Mahmood, in a special meet the media session, led the pre-launch briefing of Project Smart Sawah Berskala Besar (Smart SBB) a day before the official launch by his Minister.
Budget 2022 – Seizing The Right Moment
The recent data point suggests Malaysia will stand to benefit from the global recovery.
Power Of Role Model – How The Habits Of Parents And Kids Are Interrelated?
A new global survey, commissioned by Kaspersky, explores the role of healthy digital habits in the family, as well as the effect of parents’ behavior on children and vice versa
Better Late Than Never, But Act Now
The world should now be more aware of likely COVID-19 devastation unless urgently checked. Last week, the World Health Organization (WHO) announced an US$8 billion plan to quickly vaccinate many more people to expedite ending the pandemic.
Accelerates MSMEs Digitalisation Journey
97.2% of businesses in Malaysia are made up of Micro, Small and Medium Enterprises (MSMEs). This important business sector plays a significant role in the Malaysian economy by contributing 38.2% of Malaysia’s Gross Domestic Product (GDP). MSMEs also contributes significantly in providing job opportunities.
Leadership That Can Prevent Toxic Workplaces And High Turnover
“It is our organisation’s mission to create the largest and most productive coworking community in Malaysia & moving forward, South East Asia,”
