SINGAPORE: About 50 people were evacuated and one person was taken to the hospital after a fire broke out in a unit of a Woodlands executive condominium development.
KUALA LUMPUR: Malaysia’s inflation is likely to trend at 2.3 per cent in 2024 and 2.9 per cent in 2025, compared to Bank Negara Malaysia’s forecast of between 2 per cent and 3.5 per cent for 2024, Allianz SE chief economist Ludovic Subran said.
"Which may be good also to manage the ringgit, which has been the currency that unfortunately reacts quite strongly to the rest of the world,” he said at the Asia Pacific Economic Outlook 2024 here today. "Even if you do that, for me, one of the things that was surprising is that the subsidies have amounted to 3.6 per cent of gross domestic product in the second quarter of 2024 . It used to be at 1.8 per cent of GDP in 2Q 2019... the RON95 subsidies,” he said.
"I do not think you are going to get as much relief in the budget. That’s why we have this buffer and we think the fiscal deficit will be around 4.0 per cent," he added. His estimates for 2025 are rather conservative given the lower public infrastructure spend along with lower retail and manufacturing sales compared to pre-pandemic levels.
Inflation BNM Allianz Ludovic Subran Asia Pacific Economic Outlook 2024
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