{"id":5735,"date":"2019-01-15T16:42:25","date_gmt":"2019-01-15T08:42:25","guid":{"rendered":"http:\/\/10.0.5.12\/nnn\/?p=5735"},"modified":"2019-01-15T17:58:31","modified_gmt":"2019-01-15T09:58:31","slug":"malaysias-economic-fundamentals-remain-strong-ways-world-bank","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=5735","title":{"rendered":"Malaysia’s economic fundamentals remain strong, says World Bank"},"content":{"rendered":"\n

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Cityscape of Kuala Lumpur, Malaysia<\/figcaption><\/figure>\n\n\n\n

KUALA LUMPUR, Jan 15 (NNN-BERNAMA) — Malaysia’s economic fundamentals remain strong due to its diversified economy, despite the recent downgrade by Nomura Global Markets Research on the Malaysian equity market, says the World Bank.<\/p>\n\n\n\n

World Bank Group\u2019s Macroeconomics, Trade and Investment lead economist Richard Record said Malaysia’s diversified income stream such as electrical and electronic manufacturing, commodities, natural resources, agriculture, as well as external and domestic demand would give strength to Malaysia.<\/p>\n\n\n\n

\u201cIn the medium-term, there are challenges around human capital, productivity and governance.<\/p>\n\n\n\n

\u201cHowever, we have seen a lot of movement in the 11th Malaysia Plan Mid-Term Review for 2019-2020 whereby the government is setting out new plans to tackle those issues over the next few years,\u201d he told reporters on the sidelines of the World Bank\u2019s Conference on \u201cGlobalisation: Contents and Discontents\u201d here today.<\/p>\n\n\n\n

Record said Malaysia’s economic growth continued to be stable and the World Bank has projected it to grow at 4.7 per cent for 2019.<\/p>\n\n\n\n

Meanwhile, economist and Khazanah Research Institute visiting research fellow Prof Dr Jomo Kwame Sundaram said whether a country is doing well, especially an open economy like Malaysia, is subject to many things.<\/p>\n\n\n\n

\u201cRating agencies are notoriously useless. I do not believe in rating agencies but a lot of people do, or else they would be out of business,\u201d he added.<\/p>\n\n\n\n

Jomo was one of the chairpersons for a panel session at the conference here today.<\/p>\n\n\n\n

On Jan 9, Nomura Global Markets Research downgraded the Malaysian equity market to \u2018underweight\u2019 from \u2018neutral\u2019 previously, on poor earnings growth prospects and higher fiscal deficit of 3.9 per cent for 2018.<\/p>\n\n\n\n

In response to the report, Finance Minister Lim Guan Eng issued a statement on Jan 10, saying that the government was confident of achieving 3.7 per cent and 3.4 per cent of fiscal deficit in 2018 and 2019, respectively.<\/p>\n\n\n\n

“I have checked with the preliminary financial accounts that were closed last year and the government\u2019s fiscal position is well within the 3.7 per cent of gross domestic product (GDP) deficit target for 2018.<\/p>\n\n\n\n

\u201cNomura\u2019s report that the 2018 fiscal deficit would deteriorate to 3.9 per cent of GDP is simply untrue,\u201d he added.<\/p>\n\n\n\n

— NNN-BERNAMA <\/p>\n\n\n\n

Malaysia’s economic fundamentals remain strong, says World Bank<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, Jan 15 (NNN-BERNAMA) — Malaysia’s economic fundamentals remain strong due to its diversified economy, despite the recent downgrade by Nomura Global Markets Research on the Malaysian equity market, says the World Bank. World Bank Group\u2019s Macroeconomics, Trade and Investment lead economist Richard Record said Malaysia’s diversified income stream such as electrical and electronic manufacturing, commodities, natural resources, agriculture, […]<\/p>\n","protected":false},"author":19,"featured_media":5741,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/5735"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5735"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/5735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/5741"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5735"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}