BUKIT LANJAN: Going bankrupt? World Bank expects Malaysia to post 4.3% GDP growth this year


BUKIT LANJAN: Going bankrupt? World Bank expects Malaysia to post 4.3% GDP growth this year

The confidence of investors, both local and foreign, in Malaysia should now be boosted with the World Bank giving the country a positive outlook.

Again, this must be another blow for political doomsayers who have in the past two years been warning that Malaysia is set to go bust, financially and economically. (Read this for context: http://bukitlanjan.blogspot.my/2017/04/bukit-lanjan-malaysia-to-go-bankrupt.html)

Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said the World Bank’s assessment that Malaysia’s gross domestic product (GDP) this year would improve to 4.3%, up from 4.2% in 2016, should allay fears of an economic nightmare”.

“The growth is expected to be driven by private consumption. This means Malaysians will continue to earn and survive through the current sluggish global economy.

“Even the World Bank acknowledges that it had taken account of the global environment in assessing Malaysia’s GDP growth. It has also projected the GDP to accelerate in 2018 and 2019,” he added.


Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), said the World Bank cited higher government subsidies, more infrastructure spending and rising exports as factors capable of pushing up Malaysia’s economy this year.

“This can only mean Malaysia’s fiscal and economic policies and roadmap in attracting foreign investments, especially from China and India, are spot on.

“What Malaysia needs now are loyal citizens working extremely hard to earn and, directly or indirectly, contribute to nation-building. Not blindly condemning and criticising all and sundry,” he added.

Syed Razak said there was no reason for Malaysia not to progress valiantly economically if they unite and spend all their time on positive nation-building activities.

Here’s online news portal Free Malaysia Today’s report the World Bank:

"World Bank expects Malaysia to post 4.3% GDP growth
Bernama

 | April 13, 2017

 The bank sees the country recording a modest GDP growth this year, driven by private consumption.
KUALA LUMPUR: The World Bank expects Malaysia’s to record a modest gross domestic product (GDP) growth of 4.3% this year from 4.2% in 2016, driven by private consumption.

 But the GDP is projected to accelerate in 2018 and 2019.

 Higher government subsidies, more infrastructure spending and rising exports are the factors capable of pushing up Malaysia’s economy in 2017 and improving next year to up to 4.5%.

 World Bank Country Manager/Representative to Malaysia Faris Hadad-Zervos said: “We know the global environment is such that there is a lot of uncertainty and the economy also depends on the trade environment and trade protectionism.

 “It also depends on how the US economy is going to fare and any potential US Federal Reserve rate hike impact, and Malaysia being an open economy is susceptible to all these risks.”

 He said this after a briefing by the World Bank on the East Asia and Pacific Economic Update, the bank’s semi-annual review of the region’s developing economies, here today."

N.37 LET BUKIT LANJAN SOAR WITH SYED ABDUL RAZAK ALSAGOFF

Comments

  1. steady eddie14 April 2017 at 18:40

    A rather informative article. I would really hope for a exuberant economic climate to escalate in Malaysia.

    Our citizens are loyal and hardworking tax~payers. The prospect of not over~burdening the working machinery must be taken into account on all fronts. As in the wisdom and adagè of removing all the 'spanners in the works'.

    There has to be a decent halt to the belligerent politicking and instead concentrate on seeing to how the economic indicators are enhanced.

    The basic needs of the people, who are consumers at large ought to be addressed and redressed if it has a negative inpact. The goodies must flow to all aspects of society.

    In the end the numbers game must be cognizant of the deliverables not just a chin~wag or handing out prizes at 'lucky~draws' via~a~vis at political rallies as crowd pullers.

    Every citizen on this Blessed Land of Fortunes must be a winner, not just a select few.

    Malaysia is after all an economy poised for greater times ahead. The leadership and ship steerers must also galvanize that into achievements not rhetorical theatrics.

    ReplyDelete

Post a Comment

Popular posts from this blog

BUKIT LANJAN: What will happen to those who can’t think out of the box, can’t change or can’t evolve?

Image
An oil drilling platform operated by Statoil ASA in the North Sea near Bergen, Norway. The country is Europe’s dominant producer of oil. CreditKristian Helgesen/Bloomberg, via Getty Images Norway’s Wealth Fund Considers Divesting From Oil Shares By  CLIFFORD KRAUSS NOV. 16, 2017 Norway’s $1 trillion sovereign wealth fund is considering a divestment of holdings in international petroleum companies, a sign that even Europe’s dominant producer does not have full confidence in oil’s future. The recommendation on Thursday by the Norwegian Central Bank, which manages the fund, is potentially the biggest advance yet for a global fossil-fuel divestment campaign that has been promoted on college campuses and by environmental activists. It could also be a setback for the proposed initial public offering of the Saudi national oil company, known as Aramco, since the Norwegian sovereign wealth fund, the world’s largest, would be a potentiall...
Read more

BUKIT LANJAN: Graduates getting employed through connections and status? That’s very unhealthy!

Image
Unemployment in Malaysia [Infographic] Michelle Leo 19 Jan 2016 / Career Planning , Infographic , Jobs , Unemployment “Study hard. Get a degree. Find a good job. Live happily ever after.” Sounds familiar? Every year, over 200,000 students graduate from institutions of higher learning . Shockingly, 1 out of 4 graduates remain unemployed 6 months after graduation, with the majority being Degree holders. These graduates make up 35.3% of those who are unemployed . Here’s the hard truth — being a university graduate no longer guarantees you a job. As the number of graduates continue to climb each year, students are facing tough competition amidst a shaky economy. In this infographic, find out the truth behind why fresh graduates are unemployed in Malaysia, and learn about what you can do as a student to increase your employability! … for more, go to https://eduadvisor.my/articles/what-didnt-know-fresh-graduate-unemployment-malaysia- infographic/ BUKIT LANJAN: Graduates getting employed...
Read more

BUKIT LANJAN: DOSH and all related construction authorities must buck up

Image
BUKIT LANJAN: DOSH and all related construction authorities must buck up It is quite obvious that something is not very right with the way the Department of Occupational Health and Safety (DOSH) and all related construction authorities are monitoring work safety at construction sites. There have been quite a number of tragic and non-tragic incidents at construction sites recently and yet accidents continue to recur despite DOSH’s claims that it has set up safety committees to tighten inspections. Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said: “There was the woman who was crushed to death by a crane hook that fell on her Perodua Kelisa from 20 storeys up. “This was followed by the collapse of the KL Eco City pedestrian bridge that claimed a life. And now a crane has collapsed at the Bandar Damansara Perdana (BDP) construction site.” Syed Razak said such tragic and non-tragic mishaps at construction would not occur or could have been avoided if high and competent constr...
Read more