1 option
Malaysia Economic Monitor, December 2016 : The Quest for Productivity Growth.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank Group.
- Series:
- Economic Updates and Modeling
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Economic Forecasting.
- Economic Growth.
- Economic Management.
- Economic Statistics, Modeling and Forecasting.
- Improving Labor Markets.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Poverty Reduction.
- Productivity.
- Risk.
- Social Protection and Risk Management.
- Local Subjects:
- Economic Forecasting.
- Economic Growth.
- Economic Management.
- Economic Statistics, Modeling and Forecasting.
- Improving Labor Markets.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Poverty Reduction.
- Productivity.
- Risk.
- Social Protection and Risk Management.
- Other Title:
- Malaysia Economic Monitor, December 2016
- Place of Publication:
- Washington, D.C. : The World Bank, 2016.
- System Details:
- data file
- Summary:
- Malaysia's economic growth has slowed down but remains resilient to external headwinds. The economic growth rate slowed from 5 percent in 2015 to 4.2 percent, year on year, in the first three quarters of 2016. Private consumption growth slowed down due to a softening labor market and households' ongoing adjustment to a context of fiscal consolidation. Public investment in infrastructure is offsetting moderation in investment in the oil and gas sector. The gross domestic product (GDP) growth rate is projected to reach 4.2 percent in 2016, with slow improvement moving forward. The fiscal consolidation process remains on track despite lower oil-related revenues. External developments pose the greatest risk to Malaysia's growth trajectory. Uncertainty regarding the impact of potential US fiscal stimulus policies on global trade, energy prices, financial flows and exchange rates is a major source of external risk, as evidenced with the recent financial outflows from emerging markets and its impact on the value of the ringgit. Bank Negara Malaysia (BNM) has introduced measures to curb ringgit trading in offshore markets while developing and deepening onshore foreign exchange future markets. Continuing good performance on fiscal outcomes, in large part thanks to the introduction of GST, is important in building confidence in the policy framework. This could be supported by further mobilizing and diversifying fiscal revenues, including by broadening the base for the personal income tax and removing some exemptions in the GST. Also, raising efficiency of operational expenditure (i.e. improving the targeting of social assistance) and development expenditures (i.e. greater inter-agency coordination) could provide some additional fiscal space.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.