World Bank lead economist Richard Record says Malaysia is also benefiting from trade diversion in the ongoing US-China tariffs war. FMTNews WorldBank
PUTRAJAYA: Malaysia is on track to achieve high-income economy status by 2024, World Bank lead economist Richard Record said.The World Bank has set US$12,375 as the threshold level to define high-income economy status, Record said, adding that Malaysia’s target was achievable.
Record said the World Bank’s forecast that the Malaysian economy will grow by 4.7% this year was lowered by 0.1% to 4.6% because of weaker investment and export activity. “This follows a robust expansion in 2018,,especially during the zero-rated Goods and Services Tax period,” he said. He said the Consumer Price Index was projected to average about 1% for 2019, mainly due to the diminishing effect of changes to consumption tax policy towards the second half of the year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Bank: Efficiency of Malaysia’s civil service has stagnatedEXCLUSIVE: The performance of Malaysia’s civil service has been declining since 2014, according to a World Bank report, which also expressed concerns about the sustainability of the country’s public sector wage bill.
Read more »
Economy to grow 4.6% in 2019, says World BankIt says reforms to public service will help enable future growth and shared prosperity. Economy FMTnews
Read more »
World Bank: Malaysia's civil service efficiency stagnating | Malay MailKUALA LUMPUR, July 1 — The public sector's performance has declined since 2014, according to the World Bank that expressed concern over the sustainability of Malaysia’s huge civil service wage bill in its latest economic monitor report due out today. The World Bank also ranked Malaysia lowly...
Read more »
World Bank expects Malaysia’s GDP to grow 4.6pc | Malay MailPUTRAJAYA, July 1 — Malaysia’s economy is expected to expand at a relatively moderate rate, with the gross domestic product (GDP) projected to record 4.6 per cent in 2019, says World Bank. Lead economist in macroeconomics, trade and investment Richard Record said the GDP was 0.1...
Read more »
Concerns over sustainability of wage billKUALA LUMPUR: The World Bank has expressed concerns over the sustainability of the Malaysian public sector’s wage bill in the long run.
Read more »
Olympic champion Semenya vows no world championships if she can't run 800m | Malay MailSTANFORD, July 1 ― Olympic champion Caster Semenya said yesterday she would not defend her world title in Doha next September if she could not run in the 800 metres because of new testosterone regulations imposed by the sport's governing body. “If I am not running 800 metres, I'm not running in...
Read more »