From Hero To Zero Not Just About Muhyiddin But Also The Story Of Malaysia Under Muhyiddin

From hero to zero: Muhyiddin’s spectacular fall from graceRead The Vibes' headlines this morning chronicling Muhyiddin Yassin's short-lived reign as Malaysia's eight Prime Minister:  After praise in 2015 for stance on 1MDB saga, Bersatu president languishing following 17-month PM stint

I'm not shedding a tear for Muhyiddin, though. Because the really sad news is this other hero-to-ZERO story of how the Malaysian economy has suffered due to the pandemic as well as the government's failure to handle it properly.
Hence, why picking the right PM comprising the right people in his/her Cabinet forming a new political landscape is crucial for our health as well as our wealth. 
Fitch slashes Malaysia growth to 0% for 2021
KUALA LUMPUR (Aug 16): Fitch Solutions has revised Malaysia’s 2021 gross domestic product (GDP) growth to 0% from its earlier estimate of 4.9%. 
This comes as the second quarter 2021 (2Q21) GDP growth numbers were below its expectation, at 16.1% year-on-year (y-o-y) but a contraction of 2% quarter-on-quarter (q-o-q). 
In a commentary today, the research unit of the Fitch Group noted that the daily Covid-19 cases in the country have not come down despite the nationwide lockdown. 
Fitch Solutions does not think Malaysia will achieve herd immunity before the end of 2021 despite the accelerating vaccine rollouts, thereby ruling out a potential economic surge at the later part of the year.
“All segments of the economy from an expenditure perspective except government consumption are likely to remain stagnant or even contract slightly from 2020 levels. 
“We note further downside risks to our forecast given the high level of political risk since the beginning of 2H21 (second half of 2021) and the risk that the outbreak could still worsen over the coming months, which could further affect the economy’s performance,” added the research outfit.
Tan Sri Muhyiddin Yassin resigned as the prime minister today, with the Yang di-Pertuan Agong consenting to the Bersatu president staying on as caretaker prime minister until his successor is appointed.
While the expenditure components of GDP posted positive growth on a y-o-y basis, as it was coming from the low base set in 2Q20, Fitch Solutions opined that private consumption had in fact contracted 11.5% q-o-q, compared to the five-year 2Q average q-o-q growth rate of 2.4% pre-pandemic.   
“This demonstrates the severe impact the third wave of infections has had on the key growth engine of the economy — private consumption accounts for around 70% of GDP,” it added. 
Fitch Solutions is taking the view that the nationwide lockdown will likely last for the remainder of the year while localised lockdowns could potentially drag on into 2022. 
This, it believes, will in turn impact private consumption and gross fixed capital formation (GFCF). It revised private consumption growth to a contraction of 2% from 3% growth previously while it forecast GFCF to grow at a mere 1.5% from 4% previously. 
Fitch Solutions also sees unemployment rising in 2H21 as it has already been increasing in the latest data available for June at 4.8% from 4.5% in May.
The gloomy view stems from the research outfit's opinion that it would be unlikely to achieve herd immunity before the year-end. 
It also sees the risk that the vaccination drive could see a slowdown after this, as what has been observed in other countries such as the US and Singapore. 
“Finally, the vaccination programme is being implemented by a mix of six vaccines, including Pfizer-BioNTech, AstraZeneca, Sinovac, Johnson & Johnson, Sputnik and CanSino Biologics, with only around 50% of doses ordered so far from Pfizer-BioNTech, raising risks around efficacy and the sustainability of any easing of lockdown measures later in the year,” it added.
Still, nine states in the country, which account for 37% of the country’s GDP, have moved into Phases 2 and 3 of the National Recovery Plan since July. There has also been relaxation in Phase 1 states where 11 economic sectors are now allowed to operate. 
Along with Fitch Solutions’ dim outlook of the country’s economic prospects, it has also reduced its net export forecast. It now forecasts exports to grow by 16.1% and imports by 18.4%. 
It reasoned that despite the Malaysian government opening up more industries, external demand will likely be more affected than previously expected given the severity of Covid-19 outbreaks happening in the region. 
Besides that, while Fitch Solutions does not rule out more spending by the government in 2H21, it does not expect it to be material given that the total government debt has already exceeded its self-imposed debt limit of 60% of GDP. 
“Even if, as we expect, the government raises the debt limit again, the contracting economy means that this limit will be calculated off a smaller base, reducing the fiscal space such a move would provide,” it said. - The Edge

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

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
It S Not About Legitimacy But The Numbers Game

It S Not About Legitimacy But The Numbers Game

papar berkaitan - pada 5/8/2021 - jumlah : 145 hits
ADUN SPEAKS There are no two ways about it Prime Minister Muhyiddin Yassin has clearly lost the majority In fact he never had the majority from the time of the Sheraton Move He had to camouflage the absence of majority support by going for ...
Najib Should Not Be In The Dock But Hazem Says Shafee

Najib Should Not Be In The Dock But Hazem Says Shafee

papar berkaitan - pada 19/8/2021 - jumlah : 193 hits
Datuk Seri Najib Razak s lawyer accused former 1Malaysia Development Bhd chief executive officer Mohd Hazem Abd Rahman of being the real culprit behind the misappropriation of the company s funds BERNAMA PIC KUALA LUMPUR Datuk Seri Najib Ra...
Fallen Truck Pulled From River But Victim Not Found

Fallen Truck Pulled From River But Victim Not Found

papar berkaitan - pada 14/8/2021 - jumlah : 138 hits
SAR team pulls the vehicle out from the water SIBU The Search and Rescue team has found the pick up truck which fell from Batang Lassa bridge in Daro yesterday morning Matu Daro police chief DSP Neil Beginda said the team managed to pull
Malaysia S Hope Lies In The Youth Who Have Awakened

Malaysia S Hope Lies In The Youth Who Have Awakened

papar berkaitan - pada 21/8/2021 - jumlah : 189 hits
The rain that belted down this evening aptly summed up the sense of despondency in the living rooms of many homes here It felt like a rerun of the Sheraton Move an elite game of musical chairs As usual some Malaysians spoke of emigrating th...
Meeting With Pn Leaders Just A Normal One Muhyiddin

Meeting With Pn Leaders Just A Normal One Muhyiddin

papar berkaitan - pada 13/8/2021 - jumlah : 145 hits
Prime Minister Muhyiddin Yassin today said that his meeting with several top leaders in Perikatan Nasional yesterday was just a normal meeting He said it was because he has not seen them for a while I miss them he said jokingly to reporters...
The Next Era Of Smartphone Innovation Is About To Unfold

The Next Era Of Smartphone Innovation Is About To Unfold

papar berkaitan - pada 10/8/2021 - jumlah : 155 hits
At last August s Unpacked event I shared my strategy to bring more empowering mobile technology to as many people as possible especially at a time when they needed it most Now around one year later our world is slowly but surely preparing t...
Not Too Late To Ditch Muhyiddin Dissident Umno Mps Told

Not Too Late To Ditch Muhyiddin Dissident Umno Mps Told

papar berkaitan - pada 15/8/2021 - jumlah : 168 hits
A group of MPs from Barisan Nasional led by Umno vice president Ismail Sabri Yaakub declaring support for the PN government on Aug 6 PETALING JAYA It is not too late for Umno MPs who chose to back Prime Minister Muhyiddin Yassin s administr...
Rafizi Harapan Should Reach Out To Rural Voters Not Just Shout In Parliament

Rafizi Harapan Should Reach Out To Rural Voters Not Just Shout In Parliament

papar berkaitan - pada 23/8/2021 - jumlah : 160 hits
Pakatan Harapan should put in more effort to penetrate the rural areas says former PKR vice president Rafizi Ramli claiming that it is a straightforward approach to any politician willing to take up the challenge It is not a question of str...
The Best Project Ideas When It Comes To Balcony Decor

Azmin Ali Nafi Bawa Keluarga Lawatan Kerja Ke Eropah

Apakah Siri Kayangan Akan Berakhir Hari Ini Atau Teruskan

Najib Akan Putuskan Bertanding Pru 15 Bila Tiba Masanya

Spekulasi Terkini

Dosa Itu Bukan Miliknya

Lee Seojin Lalui Transformasi Mengejutkan Dalam Drama Internal Medicine Doctor Park

9 Makanan Yang Kaya Zat Besi

Bagaimana Produk IKEA Dinamakan

7 Fakta Mengenai Insomnia

Info Dan Sinopsis Drama Berepisod Gila Gila Cinta Slot Lestary TV3

Kahwin Uqasha Senrose Ini 10 Fakta Biodata Kamal Adli Yang Ramai Tak Tahu

6 Fakta Menakjubkan Tentang Orang Sherpa Yang Ramai Tak Tahu

Kajian Di Tapak Tengkorak Prasejarah Pada Februari Depan

It Could Be A Year Till Najib S Case Is Heard In Apex Court Says Dr M

Dulu Malu Apa Bossku Sekarang Tular Memalukan Negara

Pengalaman Road Trip Yang Menarik Elak Kesesakan Musim Cuti Panjang

Ex Boyfriend Dato Siti Nurhaliza Bongkar Rahsia

The Most Important Possibilities For Condos For Rent In Kayu Ara Now