Malaysia will lower its economic growth outlook for this year to about 4 percent due to movement restrictions against COVID-19, the country’s Finance Minister Tengku Zafrul Abdul Aziz.
Malaysia will lower its economic growth outlook for this year to about 4 percent due to movement restrictions against COVID-19, said the country’s Finance Minister Tengku Zafrul Abdul Aziz. (Photo: The Star)
Kuala Lumpur (VNA) - Malaysia will lower its economic growth outlook for this year to about4 percent due to movement restrictions against COVID-19, the country’s Finance MinisterTengku Zafrul Abdul Aziz.
While there’s optimism that the current surge in cases can be contained andlockdown measures will be eased, the government still expects to lower itsgross domestic product estimate for 2021, he said in an interview withBloomberg TV on July 12.
The Malaysian government will considering revisingthe outlook, currently at 6-7.5 percent, next month, said Tengku Zafrul, whowas appointed last week as coordinating minister for the nation’s NationalRecovery Plan.
He also forecast that his country’s budget deficit may increase to 6.5-7percent from the previously projected 6 percent.
Hesaid he would propose the parliament raise the debt ceiling to 65 percent ofthe GDP from 60 percent currently in order to have enoughliquidity in the market for the government to borrow to fund stimulus packages./.
A six-month moratorium will be given to all individual borrowers whether they are from the B40 (Bottom 40 percent), M40 (Middle 40 percent) or T20 (Top 20 percent) groups, or micro-entrepreneurs, Malaysian Prime Minister Muhyiddin Yassin said on June 28.
The Indonesian government announced on June 30 that emergency restrictions of community activities will be imposed from July 3 to 20 in a bid to reduce the number of COVID-19 cases to 10,000 per day.
Indonesia on July 3 logged a record daily number of COVID-19 cases, at 27,913, while Laos saw a downward trend in the number of domestic infections and Malaysia planned to ease lockdown measures.
Malaysia on July 5 put its industrial vaccination centre at Terminal 1 of the Kuala Lumpur International Airport into operation in a bid to speed up COVID-19 vaccination for workers in the aviation sector.
Several Austrian companies have expressed interest in making investment in Malaysia due to its strategic position as a gateway to the Asia Pacific region, according to the Malaysian Ministry of International Trade and Industry (MITI).
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Malaysia will lower its economic growth outlook for this year to about 4 percent due to movement restrictions against COVID-19, said the country’s Finance Minister Tengku Zafrul Abdul Aziz. (Photo: The Star) 
