Pump Rm150 Billion Cash Into Economy Says Economist


Money flow has been curtailed by the national shutdown, causing the economy to shrink, an expert says.PETALING JAYA: An economist has called for drastic measures to ward off any economic recession because of the Covid-19 crisis, and suggested a RM150 billion direct cash injection into the economy
The economist, Kameel Mydin Meera, said Malaysia might face a double recession this year, with millions losing their jobs
To stave off the recession, he said the federal government could increase money supply from the central bank
The government should inject RM150 billion of direct cash into the economy instead of the current measures in the RM250 billion stimulus package announced recently
Kameel Mydin MeeraHe said an increase in the money supply would help businesses to keep factories and shops running, and put food on the table
Kameel, a former dean of the Institute of Islamic Banking and Finance at the International Islamic University Malaysia cautioned the government against borrowing any money, especially from the International Monetary Fund (IMF) and other institutions
He said such debts would be a burden on the future generation
Kameel added the movement control order will cause companies to shut down as they do not have the money to run their operations
“Since money has stopped moving, the economy will shrink due to the multiplier effect,” said Kameel, who now heads a consulting group
In a recent report, the Malaysian Institute of Economic Research speculated that 2.4 million Malaysians may be jobless as GDP growth contracts to -2.9% for 2020
Kameel said a recession had been expected even before the Covid-19 crisis broke
He disagreed with the forecast of a 2.8% contribution to GDP from the stimulus package, as stated by Finance Minister Tengku Zafrul Aziz recently
“Now we will also be facing a recession from the retail sector, among all other sectors. SMEs will be badly affected with millions being retrenched,” he said, adding that only drastic measures will help Malaysia
No growth in GDPNazari Ismail, a professor of economics at Universiti Malaya told FMT he is sceptical about the prospects for GDP growth for 2020
Nazari Ismail“But I am confident the government will have additional debt as a result of it,” he said
Another economist, Yeah Kim Leng, said the economy would take a further hit if the movement control order was extended beyond its expiry date of April 14
“Even if it is not extended, it is likely that no mass gatherings will be allowed, and social and travel activities will be restricted to guard against new waves of the virus outbreak,” he told FMT
The restrictions will result in a decline in consumer consumption and possibly also of production, commercial and trade activities if factories and business premises are allowed only partial opening
He further said the estimated 2.8% contribution to GDP growth from the stimulus package has been factored into Bank Negara’s GDP growth forecast range of between – 2.0 to 0.5% in 2020
On April 3, Bank Negara in its Economic Monetary Review 2019 said Malaysia’s economy could shrink as much as 2% for 2020 due to the Covid-19 pandemic
During the 1998 Asian economic crisis, Malaysia suffered a 7.5% economic decline and a 1.5% decline in the 2009 global economic crisis
Yeah said the current situation could result in either the shallow 2009 recession or the deep one in 1998. He cautioned that it is difficult to predict the extent of the recession while the global number of Covid-19 infections was still rising. -FMT

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

http://malaysiansmustknowthetruth.blogspot.com/2020/04/pump-rm150-billion-cash-into-economy.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MalaysiansMustKnowTheTruth+%28Malaysians+Mus

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
Tourism Sector Could Lose More Than Rm50 Billion Due To Covid 19 Says Research House

Tourism Sector Could Lose More Than Rm50 Billion Due To Covid 19 Says Research House

papar berkaitan - pada 31/3/2020 - jumlah : 230 hits
Research firm Affin Hwang Capital warns that the tourism sector could lose RM50 billion to RM60 billion in tourist receipts this year due to the Covid 19 crisis It said this was based on the assumption that the crisis could lead to a 60 dec...
Count Logistics As Essential Service Says Economist

Count Logistics As Essential Service Says Economist

papar berkaitan - pada 28/3/2020 - jumlah : 297 hits
IDEAS economist Carmelo Ferlito says logistics needs to be restored as a huge priority during the Covid 19 crisis PETALING JAYA An economist has urged the government to include logistics as an essential service saying hindrances to the indu...
Selangor Can Be Litmus Test For Mass Screening Says Economist

Selangor Can Be Litmus Test For Mass Screening Says Economist

papar berkaitan - pada 2/4/2020 - jumlah : 191 hits
Selangor has allocated RM1 3 million to screen some 5 000 people for the Covid 19 virus PETALING JAYA An economist has praised the Selangor government for its second stimulus package saying the support measures are well targeted Institute f...
Prihatin No Record Individuals Can Make New Applications Says Irb

Prihatin No Record Individuals Can Make New Applications Says Irb

papar berkaitan - pada 2/4/2020 - jumlah : 206 hits
Individuals who received a no record result when checking the Bantuan Prihatin Nasional aid via the Inland Revenue Board official portal can make new applications online until April 30 All they have to do is to click on the new application ...
Health Ministry To Decide If Mco Will Be Extended Says Ismail Sabri

Health Ministry To Decide If Mco Will Be Extended Says Ismail Sabri

papar berkaitan - pada 3/4/2020 - jumlah : 293 hits
No decision has been made on whether to further extend the movement control order which has entered its second phase Senior Minister Datuk Seri Ismail Sabri Yaakob said this will be decided by the Health Ministry depending on the Covid 19 p...
Hold Spm Exam Next Year Instead Says Education Ngo

Hold Spm Exam Next Year Instead Says Education Ngo

papar berkaitan - pada 3/4/2020 - jumlah : 301 hits
The government has rescheduled the SPM examination to Nov 16 until Dec 7 PETALING JAYA The Parent Action Group for Education said rescheduling the Sijil Pelajaran Malaysia to November December following the extension of the movement control...
Malaysians Cheer On Moh As Health D G Says Our Country S Covid 19 Curve Is Flattening

Malaysians Cheer On Moh As Health D G Says Our Country S Covid 19 Curve Is Flattening

papar berkaitan - pada 3/4/2020 - jumlah : 285 hits
However Dr Noor Hisham begged Malaysians to continue staying at home and practise good hygiene small Cover image via Malay Mail MSN News Sean Thum CNA small It has been a full two weeks since the Movement Control Order was implemented and i...
All 121 Malaysians Stranded In Saudi Arabia In Good Condition Says Ambassador

All 121 Malaysians Stranded In Saudi Arabia In Good Condition Says Ambassador

papar berkaitan - pada 3/4/2020 - jumlah : 220 hits
CORONAVIRUS All 121 Malaysians stranded in Saudi Arabia due to coronavirus related measures are in good health and well taken care of as the Malaysian embassy is working on ways to bring them back home safely Malaysian ambassador to Saudi A...
15 20 Percent Overseas Returnees Did Not Self Quarantine Says Health Dg

15 20 Percent Overseas Returnees Did Not Self Quarantine Says Health Dg

papar berkaitan - pada 3/4/2020 - jumlah : 209 hits
CORONAVIRUS The government decided to impose mandatory quarantine to all overseas returnees after finding that many had flouted its self isolation order Health director general Dr Noor Hisham Abdullah said they estimated between 15 to 20 pe...
Saka Bapak Kau

Natural Gas Fuel Not A Hazard

Beli Rumah Lebih Jimat Dengan Kempen Hartanah Bumiputera Matrix

How Car Centric Planning Is Killing Malaysians

Masjid Lapangan Terbang Sultan Abdul Aziz Shah

Top Picks Best Trucks For Towing In 2025

15 Playful Midcentury Kids Room Ideas For A Retro Vibe

Creating A Winning Pitch Deck


echo '';
Info Dan Sinopsis Drama Berepisod Dhia Kasyrani Slot Akasia TV3

Biodata Terkini Reshmonu Peserta Gegar Vaganza 2024 Musim 11 GV11 Penyanyi Lagu Hey Waley

Gegar Vaganza 2024 GV 11 Hadiah Tiket Peserta Juri Format Pemarkahan Dan Segala Info Tonton Live Di Astro Ria Dan Sooka

6 Janji Donald Trump Kalau Dia Naik Jadi Presiden Semula

Biodata Terkini Zehra Zambri Peserta Gegar Vaganza 2024 Musim 11 GV11 Penyanyi Lagu Semalakama


Kempen Hartanah Bumiputera Khas Untuk Pembeli Bumiputera Mendapatkan Rumah Dengan Tawaran Giler Menarik

Apabila Musuh Mengerumuni Umat Islam Seperti Hidangan

Pesakit Diabetes Mengalami Masalah Mati Pucuk

Transformasi Bank Btpn Kini Berubah Nama Menjadi Smbc Indonesia

Pengalaman Mencicipi Hidangan Kuliner Khas Georgia Yang Menggugah Selera

Tattoos Portland Maine