Malaysia Can Weather The Storm Bnm Governor



(BERNAMA) – Various measures announced recently underscores Malaysia’s multi-pronged approach that will help the country to endure and recover from the economic impact of COVID-19 pandemic, Bank Negara Malaysia (BNM) Datuk Nor Shamsiah Yunus said.
Complementarities between monetary, financial, fiscal and structural policies are key to ensure policy responses are comprehensive and coordinated effectively, she said.
“The Malaysian economy managed to recover quickly from past crises partly because these policies were implemented collectively in a timely manner,” she said in the Economic and Monetary Review 2019 (EMR) released by Bank Negara Malaysia (BNM) here, today.
In the maiden EMR report, Nor Shamsiah acknowledged that global health crisis due to COVID-19 has resulted in the pace of economic activities in many countries contracting sharply and growth prospects for both advanced and emerging market economies are deteriorating.
This, in turn, has led to heightened turbulence in global financial markets, further amplified by uncertainty in the global oil market.
Malaysia has not been spared.
While relevant authorities and frontliners are doing their best to mitigate the spread of the virus, the economic impact is already being felt deeply by households and businesses alike, she said.
“Spillovers from the pandemic and the implementation of the Movement Control Order (MCO) to contain its spread will result in large output losses for the Malaysian economy in 2020.”
“Significant policy intervention to support individuals, households and businesses are needed to prevent what should be a transitory economic disruption from becoming permanent.”
Such support should aim to avert large-scale business failures that could result in a more lasting impact on the economy, even after the health crisis has receded, said the governor.
In Malaysia, besides the government’s RM250 billion “Prihatin Rakyat” Economic Stimulus Package 2020, BNM, banking and financial sector, as well as state governments, have also come up with respective measures within their purviews.
For instance, BNM lowered the Overnight Policy Rate (OPR) in January and March this year, by a total of 50 basis points. In addition, the Statutory Reserve Requirement (SRR) ratio was lowered by 100 basis points, with an allowance provided for Government Securities to be recognised for SRR compliance.
These combined SRR measures will release approximately RM30 billion worth of liquidity into the banking system. A 6-month moratorium has also been extended for loan and financing payments.
She said the government’s stimulus measures and policy rate cuts coupled with the continued progress of public projects and higher public sector expenditure would support growth.
The stimulus package alone would contribute 2.8 per cent to growth, she said, but noted output loss due to COVID-19, MCO and commodity supply disruption, the overall growth for the year is expected to be between -2 to 0.5 per cent.
In 2019, Malaysia’s gross domestic product grew by 4.3 per cent.
“As we look into the future, it is important to maintain a sense of perspective. While our current circumstances seem grim, the Malaysian economy retains a degree of resilience.”
“Our diversified sources of growth and external trade structure help to mitigate the economic impact of domestic and external developments,” she said.
Nor Shamsiah said continued surpluses in the current account, adequate levels of international reserves and a flexible exchange rate also accord some buffer against external shocks.
The financial sector remains a source of strength, giving assurance that financial intermediation will carry on uninterrupted, she stressed.
“It is my hope that, in the next EMR, we will be able to note that the global the community has overcome this health crisis and report on how Malaysia has weathered the storm.”
For now, difficult choices must be made for the nation to come out stronger on the other side.
“We will all need to persevere and come together for the sake of our collective future. We have done this before, and I do not doubt that we can do it again. On our part, the Bank will remain steadfast in discharging our mandates through this challenging and unpredictable time,” she added.
 


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

https://www.malaysia-today.net/2020/04/03/malaysia-can-weather-the-storm-bnm-governor/

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
Can You Handle A Dark Shade In The Kitchen

Can You Handle A Dark Shade In The Kitchen

papar berkaitan - pada 10/4/2020 - jumlah : 296 hits
The dark kitchen is a slightly unusual room to decorate in a home The decoration of the kitchen must be practical pleasant and bright enough to be able to fully benefit from this living space Even if The post appeared first on
M Muhyiddin May Extend Lockdown Until May Because The Unstable Government Can T Take Any Political Risk

M Muhyiddin May Extend Lockdown Until May Because The Unstable Government Can T Take Any Political Risk

papar berkaitan - pada 9/4/2020 - jumlah : 289 hits
On Friday the government of Muhyiddin Yassin will announce the fate of the MCO which has been enforced since March 18 But based on the current status of Coronavirus cases you can bet all your money that it will be extended again In fact it ...
Can China Save The World From Covid 19

Can China Save The World From Covid 19

papar berkaitan - pada 3/4/2020 - jumlah : 356 hits
As this is written China has placed the Covid 19 pandemic in Wuhan under control if not the whole of the country This is quite a feat for a population of 1 3 billion that has only begun its serious lockdown of Wuhan a city in Hubei province...
Yoursay Ministers Can T Make Head Or Tail Of The Shutdown

Yoursay Ministers Can T Make Head Or Tail Of The Shutdown

papar berkaitan - pada 27/3/2020 - jumlah : 237 hits
YOURSAY Messages to the rakyat should not leave them guessing misinterpreting or presuming Chicken Rice Incompetent ministers during peacetime is going to waste money at worst In time of crisis of this proportion incompetence is literally l...
Who Is To Be Blamed For The Covid 19 Crisis In Malaysia

Who Is To Be Blamed For The Covid 19 Crisis In Malaysia

papar berkaitan - pada 7/4/2020 - jumlah : 430 hits
This video below seem to be viral through whatsapp social media since morning Who should actually take the blame for the current critical situation of the Covid 19 pandemic in Malaysia Let s fight this Covid 19 pandemic by STAYING HOME The ...
Ulasan The Platform Filem Mind Blown Netflix Yang Trending Nombor Satu Di Malaysia

Ulasan The Platform Filem Mind Blown Netflix Yang Trending Nombor Satu Di Malaysia

papar berkaitan - pada 28/3/2020 - jumlah : 419 hits
Jika anda suka filem seperti Snowpiercer Elysium dan Mad Max The Platform adalah filem yang anda perlu tonton di Netflix ketika ini Sejak Perintah Kawalan Pergerakan dilaksanakan minggu lalu filem The Platform ini secara tiba tiba menjadi p...
An Open Letter To The Prime Minister Of Malaysia

An Open Letter To The Prime Minister Of Malaysia

papar berkaitan - pada 10/4/2020 - jumlah : 354 hits
Pandemic Covid 19 has become the greatest challenge and socioeconomic crisis in this country as it has in almost every country in the world To Malaysia s credit the measures taken by the government guided by professionals and the best avail...
Muhyiddin S Coup The Final Proof Malaysia Now So Corrupt The People No Longer Understand What Is Corrupt

Muhyiddin S Coup The Final Proof Malaysia Now So Corrupt The People No Longer Understand What Is Corrupt

papar berkaitan - pada 26/3/2020 - jumlah : 399 hits
Thus complains a Harapan MP who rightly criticises the failure to reform the practice of handing out money to MPs Except only to the extent he suggests all MPs should get the same amount of public money to keep constituents personally grate...
I Can See Your Voice Malaysia Musim Ke 3 Full I Can See Your Voice Malaysia Minggu 8

I Can See Your Voice Malaysia Musim Ke 3 Full I Can See Your Voice Malaysia Minggu 8

papar berkaitan - pada 7/4/2020 - jumlah : 534 hits
Jangan lupe tekan iklan2 yg ada dalam blog ini Cukup lah hanya sekali Terima kasih Please Click the advertisment Once is enough Thank YouAIK BACA JE KOMEN LA SIKIT sumber
Mission Impossible For Pas To Grab More Seats In Sabah Election Battle

A Stray Dog A Cashier And A Country S Cultural Divide

Kids Videoed Vandalising Deepavali S Kolam In Mall Parents Slammed For Turning Blind Eye

Could Mic Be Making An Announcement About Exiting Bn Soon

Cara Senang Untuk Membahagiakan Isteri

Start Your Own Pas Airlines Dap Mp Scoffs At Call To Ban Alcohol On Mas

Petronas Ni Tak Reti Serik Ke Duk Melabur Di Negara Rusuhan

Jangan Beli Kereta Terpakai Sebelum Baca Ini


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Servis Printing Lengkap Untuk Usahawan Baru Branding Lebih Mudah Menarik

Mix Match Make Waves Unlocking Your Signature Sharky S Look

Menyesal Tak Kerja Tak Sama Dengan Bidang Belajar

Bukan Setakat Alkohol Kru Penerbangan Juga Patut Diberi Pilihan Tutup Aurat Zainul Rijal

Bersabar Sebab Anak Itulah Saya Bertahan Setahun Uqasha Senrose Buka Mulut Tentang Rumah Tangga

Kalau Macam Tu Betul La Sanusi Mb Kedah Fitnah Anwar