Malaysia Economy Stable
Malaysia Economy Stable

Malaysia Economy Stable

Malaysia Economy Stable

Malaysia’s economic stability is better than Singapore’s, says Barisan Nasional. In a statement on Saturday, the ruling party said although Singapore had always done better in gross domestic product growth, this trend had now changed, Malaymailonline reported. “The reason why Malaysia has been more resilient post-2009 is a deliberate effort by Naib Tun Razak’s Economic Transformation Program for Malaysia to not to be overly-dependent on world commodity prices, international trade and on foreign investments as we were in the past. There was a deliberate rebalancing to the domestic economy,” it said in a statement. It added that among efforts taken in the ETP was to reduce reliance on petroleum-related income. “Hence, the slump in oil prices did not affect Malaysia as much as Singapore, which is the oil hub of Asia. “The Malaysian government’s reliance on petroleum-related income has dropped from more than 41.3% in 2009 to 14% now, a remarkable achievement,” it said. It added that the move by the government to redistribute income and development to rural economies had also increased domestic demand.


Short URL : https://goo.gl/HCCOKp
  1. https://goo.gl/0Q8l43
  • https://goo.gl/SG6uMY
  • https://goo.gl/N6rthn
  • https://goo.gl/WjBmHT
  • https://goo.gl/weoP9C

You can also read ...

More and more Thai merchants are integrating WeChat Pay and Alipay’s systems to cater to tourists.
The internet has changed the way most people live. Through...
Cambodia’s economic outlook remains positive, but is subject to downside risks.
The IMF Managing Director Christine Lagarde expressed optimism...
More India Bank Frauds Revealed
Over 25,800 fraud cases involving about Rs179 crore ($1.79...
Qatar Calls to Investigate UAE Bank’s Bogus Deals
Qatar has asked US regulators to investigate the US subsidiary...
Free trade achieves more good for the planet.
US President Donald Trump’s steel tariffs have brought the...
Morocco Currency Reform on Right Track
Few weeks after the launch of the gradual dirham float, the...
EU Readies Tax on US Technological Titans
The European Union will next week unveil plans for a digital...
Apparel imports from ASEAN are growing, spurred by low labor costs  in such countries as Vietnam.
Import prices for apparel and daily goods in Japan plunged...

Add new comment

Read our comment policy before posting your viewpoints