After Worst Recession In Malaysia S History Strong Economic Recovery Expected In 2021 Fitch S Research Unit Predicts



(MMO) – Malaysia economic recovery in the second half of this year is expected to be gradual before bouncing back on its feet next year, having experienced the its “worst recession” recently, the Fitch Group’s research unit said.
Fitch Solutions Country Risk and Industry Research was explaining why it had decided to revise its forecast of real GDP or economic growth for Malaysia at -4.5 per cent for 2020, down from the previous figures of -2.8 per cent. It also revised its 2021 forecast for Malaysia’s real GDP from the previous 5.7 per cent to a more positive 6.3 per cent.
Key reasons for the Fitch research unit’s revision of the 2020 figures include the 17.1 per cent contraction of Malaysia’s real GDP in the second quarter of 2020 or from April to June as compared to the year before due to movement control order (MCO) measures, which the unit described as the “worst contraction in Malaysia’s history”.
It also said the -4.5 per cent outlook for Malaysia’s real GDP is due to forecasted weaker domestic and external demand in the second half of 2020 in line with expected continued restrictions on travel and movement.
Touching on the expected greater contraction in private spending by 2.0 per cent instead of the forecasted contraction of 0.8 per cent previously, the Fitch unit said in its report on its outlook for Malaysia: “The severe downturn in Q220 as well as continuing restrictions on gatherings and people’s movements will continue to weigh on private consumption as disposable incomes shrink and malls and entertainment venues see less traffic.
“Furthermore, travel restrictions are likely to remain largely in place, as negotiations to re-open travel are likely to be limited to essential business travel in 2020, with governments in Asia mostly taking a cautious approach towards the matter.
“Malaysia will therefore be still unable to count on a return of tourism to aid the recovery, and this is a severe limiting factor, since tourism is a key part of the economy, accounting for 11.5 per cent of GDP (in both direct and indirect impact) in 2019,” it said.
Domestically, the research unit predicts slower recovery for gross fixed capital formation or investments as local businesses will remain cash strapped throughout this year due to cash flow issues, while noting that government consumption is unlikely to pick up the slack in domestic demand due to fiscal constraints and a relatively modest spending package announced in March.
Malaysia’s economic recovery for the second half of this year is also expected to be slower, due to the expected weaker economic recovery in its key trading partners, the Fitch unit said.
But the Fitch Solutions Country Risk and Industry Research also expected economic activity in Malaysia to pick up again over the second half of 2020, in line with the relaxing of MCO measures that are expected to be further eased over the coming months.
“Similar to other Asian economies such as Singapore, we believe that the worst has passed for Malaysia in terms of the recession and in the absence of a second wave of Covid-19 infections, a recovery, albeit slow and fragile, is set to commence in H220,” the research unit said in the same August 14 report, referring to the second half of 2020.
And for 2021, Malaysia is expected to record strong recovery in economic growth with the expected lifting of more restrictions on domestic movement and international travel.
“The easing of restrictions would pave the way for a private consumption led recovery in 2021, which we expect to contribute the lions share at 5.4pp out of the 6.3% growth we are forecasting.
“Furthermore, a more synchronised global recovery in 2021 will help to spur external demand, and boost exports,” it said, while also predicting that there may be faster growth in imports as compared to exports due to “exuberance in private consumption”.
“2021 is also likely to see investment return to growth as well, as domestic businesses gear up for the recovery beyond 2021 alongside a return of FDI as the region continues to undergo a re-configuration of supply chains,” it added, referring to foreign direct investment by its initials.
But the research unit noted that a new wave of Covid-19 cases could hurt the outlook for Malaysia, saying: “The emergence of a second wave of infections, both in Malaysia, and in a number of major economies around the world such as China and the US (which is already grappling with an aggressive second wave), remain the key downside risk to our 2020 and 2021 forecasts.”
 


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

https://www.malaysia-today.net/2020/08/17/after-worst-recession-in-malaysias-history-strong-economic-recovery-expected-in-2021-fitchs-research-unit-predicts/

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
On Track For 2021 Economic Recovery Says Finance Minister

On Track For 2021 Economic Recovery Says Finance Minister

papar berkaitan - pada 9/8/2020 - jumlah : 343 hits
The country s economy is likely to rebound next year says Finance Minister Tengku Zafrul AzizBATU KAWAN Malaysia s economy is on the right track for recovery in 2021 Finance Minister Tengku Zafrul Aziz said today He said based on the recent...
Kalendar Islam 2021 Masihi 1442 1443 Hijrah Malaysia

Kalendar Islam 2021 Masihi 1442 1443 Hijrah Malaysia

papar berkaitan - pada 10/8/2020 - jumlah : 715 hits
Maklumat kalendar atau takwim Islam sediaan JAKIM dan tarikh tarikh penting dalam Islam untuk tahun 2021M 1442 1443H bagi Malaysia Kalendar Islam atau Kalendar Hijriah adalah merupakan kalendar lunar qamariah iaitu kalendar yang dikira berd...
Economic Recovery Plans Paying Off Says Muhyiddin

Economic Recovery Plans Paying Off Says Muhyiddin

papar berkaitan - pada 16/8/2020 - jumlah : 274 hits
Prime Minister Muhyiddin Yassin said unemployment had dropped in June compared to May JOHOR BHARU The drop in unemployment rate as seen in June is an early sign that the government s economic recovery efforts are beginning to bear fruit sai...
Philippine Economy Dives Into Recession In Worst Slump On Record

Philippine Economy Dives Into Recession In Worst Slump On Record

papar berkaitan - pada 6/8/2020 - jumlah : 215 hits
The Philippine economy plunged by much more than expected in the second quarter falling into recession for the first time in 29 years as economic activity was hammered by one of the world s longest and strictest coronavirus lockdowns The So...
Muhyiddin Stepped Up To Save Malaysia After You Quit As Pm Shahidan Kassim Tells Dr Mahathir

Muhyiddin Stepped Up To Save Malaysia After You Quit As Pm Shahidan Kassim Tells Dr Mahathir

papar berkaitan - pada 17/8/2020 - jumlah : 286 hits
Tan Sri Muhyiddin Yassin was not a traitor but rather a saviour who emerged after Tun Dr Mahathir Mohamad resigned as the prime minister to trigger a political crisis in Malaysia said Datuk Seri Shahidan Kassim Once a loyalist of Dr Mahathi...
Malaysia School Holiday Calendar 2021 Changes And Possible Implications

Malaysia School Holiday Calendar 2021 Changes And Possible Implications

papar berkaitan - pada 19/8/2020 - jumlah : 1555 hits
Add captionThe Ministry of Education has released the 2021 school holidays calendar The school holidays for 2021 are as follows 27 March 4 Apr 2021 First Semester Break29 May 13 Jun 2021 Mid Year Break17 Jul 25 Jul 2021 Second Semester Brea...
Perginya Sebutir Permata Dunia Kewartawanan Malaysia Datuk Abd Jalil Ali Akan Sentiasa Dikenang

Perginya Sebutir Permata Dunia Kewartawanan Malaysia Datuk Abd Jalil Ali Akan Sentiasa Dikenang

papar berkaitan - pada 8/8/2020 - jumlah : 479 hits
Khabar pemergian Penasihat Eksekutif Editorial Sinar Harian Datuk Abd Jalil Ali menghadap Ilahi awal pagi hari ini membuatkan ramai terkejut Berita sedih buat kami Beliau amat dekat di hati kami karyawan Majalah Rasa kerana dahulu ketika di...
Malaysia Sumbang Rm1 Juta Bantu Rakyat Lubnan Pm

Malaysia Sumbang Rm1 Juta Bantu Rakyat Lubnan Pm

papar berkaitan - pada 8/8/2020 - jumlah : 347 hits
Muhyiddin yakin rakyat Lubnan mampu atasi impak tragedi letupan Perdana Menteri Tan Sri Muhyiddin Yassin BANGI Kerajaan Malaysia memutuskan untuk menyumbang RM1 juta bantuan kemanusiaan untuk rakyat Lubnan menerusi Pertubuhan Palang Merah L...
Senarai 5 Restoran Trendy Yang Popular Di Kuala Lumpur Malaysia

Senarai 5 Restoran Trendy Yang Popular Di Kuala Lumpur Malaysia

papar berkaitan - pada 8/8/2020 - jumlah : 483 hits
Jika di negara asing kita terbiasa dengan restoran trendy yang cantik dengan lampu dan perhiasan indah Menarik untuk dipandang dan selesa untuk bersantai Tetapi trendy di Malaysia tidak hanya pada persembahan premis dan makanan tetapi juga ...
Rasa Masakan Korea Soondubu Jigae Beef Di Dubuyo

China S President To Host Official Dinner For Anwar

I Bought A Toy Like Vape Online Mp Tells Dewan Chamber

Drama One Cent Thief 2 Lakonan Syafiq Kyle Azira Shafinaz

Tip Mudah Santan Berketul Jadi Elok Semula Letak Sehelai Daun Ini Saja

Maggi Goreng

Unlocking Savings Expert Tips For Finding Discounted Cigarettes In Australia

Kips Bay Decorator Show House Dallas 2024 An Exquisite Showcase Of Design


echo '';
Biodata Terkini Penyanyi Illa Sabry Peserta Gegar Vaganza 2024 Musim 11 GV11

Info Dan Sinopsis Drama Berepisod Senyawa iQIYI Malaysia

Info Dan Sinopsis Drama Berepisod Project Projek Exit Astro Originals

Pelajari Asal Usul Nama Makhluk Seram Kisah Fiksyen Barat Yang Terkenal

10 Fakta Filem Kahar Kapla High Council Yang Ramai Tak Tahu Prekuel Drama Project Projek High Council


Pencipta Squid Game Hwang Dong Hyuk Sahkan Musim 3 Sebagai Penutup Kisah Gi Hun

Sedapnya Kopi Kering Beku Kapsul Dari Zus Coffee

Anwar Slams Hypocritical Criticism Over His Response To Najib S Apology

A Sucker Punch For Rm1 000 What S The Value Of Dignity In Malaysia

Mencipta Paper Bag Yang Berkesan Elemen Dan Pilihan Bahan

11 Jam Dan 1 Jam