Malaysia's Q1 GDP growth expands 0.7 pct, lowest since 2009
Malaysia’s gross domestic product (GDP) growth fell sharply to 0.7 percent in the first quarter of this year, the lowest seen since Q3 2009, according to a statement from the Department of Statistics Malaysia.
Malaysia’s gross domestic product (GDP) growth fell sharply to 0.7 percent in the first quarter of this year (Photo: Reuters)
Hanoi (VNA) - Malaysia’s gross domestic product (GDP) growth fell sharply to 0.7 percent in the first quarter of this year, the lowest seen since Q3 2009, according to a statement from the Department of Statistics Malaysia.
The figure was much lower than the 3.6 percent recorded in the previous quarter.
Movement restrictions imposed due to the COVID-19 pandemic cost Malaysia’s economy an estimated 63 billion ringgit (14.5 billion USD), according to Prime Minister Muhyiddin Yassin.
The pandemic has dealt a blow on Malaysia’s services and trade sectors, as demand for its key export items of oil and rubber plummeted. The decline of oil prices also hurt the country’s economy.
The country’s central bank has cut interest rates while its government has introduced major bailouts to bolster recovery.
The Southeast Asian nation is likely to experience a slower economic growth in the second quarter following the Movement Control Order (MCO) which began in mid-March./.
The number of unemployed people reached 520,000 in Malaysia after seven weeks of the enforcement of the Movement Control Order (MCO) to cope with the ravaging COVID-19 pandemic, forcing the government to restart the economy.
The Malaysian government has decided to extend the travel and business restrictions for four more weeks until June 9 in the context that the Southeast Asian country gradually reopens its economic activities.
Malaysia's unemployment rate is now the highest since the 2008-2009 world financial crisis, at 3.9 percent, as people saw their livelihoods affected by COVID-19 and the movement control order (MCO), said the country’s Department of Statistics.
Malaysian Prime Minister Muhyiddin Yassin will not face a confidence vote on May 18 as earlier scheduled, the speaker of the parliament said on May 13 after the government cited the battle against the COVID-19 pandemic as a priority.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Malaysia’s gross domestic product (GDP) growth fell sharply to 0.7 percent in the first quarter of this year (Photo: Reuters) 
