Publication:
Malaysia Economic Monitor, December 2016: The Quest for Productivity Growth

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2017-01-13T20:14:17Z
dc.date.available2017-01-13T20:14:17Z
dc.date.issued2016-12
dc.description.abstractMalaysia’s economic growth has slowed down but remains resilient to external headwinds. The economic growth rate slowed from 5 percent in 2015 to 4.2 percent, year on year, in the first three quarters of 2016. Private consumption growth slowed down due to a softening labor market and households’ ongoing adjustment to a context of fiscal consolidation. Public investment in infrastructure is offsetting moderation in investment in the oil and gas sector. The gross domestic product (GDP) growth rate is projected to reach 4.2 percent in 2016, with slow improvement moving forward. The fiscal consolidation process remains on track despite lower oil-related revenues. External developments pose the greatest risk to Malaysia’s growth trajectory. Uncertainty regarding the impact of potential US fiscal stimulus policies on global trade, energy prices, financial flows and exchange rates is a major source of external risk, as evidenced with the recent financial outflows from emerging markets and its impact on the value of the ringgit. Bank Negara Malaysia (BNM) has introduced measures to curb ringgit trading in offshore markets while developing and deepening onshore foreign exchange future markets. Continuing good performance on fiscal outcomes, in large part thanks to the introduction of GST, is important in building confidence in the policy framework. This could be supported by further mobilizing and diversifying fiscal revenues, including by broadening the base for the personal income tax and removing some exemptions in the GST. Also, raising efficiency of operational expenditure (i.e. improving the targeting of social assistance) and development expenditures (i.e. greater inter-agency coordination) could provide some additional fiscal space.en
dc.identifierhttp://documents.worldbank.org/curated/en/773621481895271934/Malaysia-economic-monitor-the-quest-for-productivity-growth
dc.identifier.doi10.1596/25857
dc.identifier.urihttps://hdl.handle.net/10986/25857
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Kuala Lumpur
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjecteconomic growth
dc.subjecteconomic outlook
dc.subjectfiscal trends
dc.subjectimports
dc.subjectvolatility
dc.subjectrisk
dc.subjectproductivity
dc.subjectexport competitiveness
dc.subjecteducation
dc.subjectskills
dc.titleMalaysia Economic Monitor, December 2016en
dc.title.subtitleThe Quest for Productivity Growthen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleMalaysia Economic Monitor, December 2016
okr.date.disclosure2016-12-16
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/773621481895271934/Malaysia-economic-monitor-the-quest-for-productivity-growth
okr.guid773621481895271934
okr.identifier.doi10.1596/25857
okr.identifier.externaldocumentum090224b0847cc405_1_0
okr.identifier.internaldocumentum27029974
okr.identifier.report111103
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/773621481895271934/pdf/111103-WP-PUBLIC-MEM-15-December-2016-Final.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryMalaysia
okr.sectorPublic Administration, Law, and Justice
okr.themeEconomic management :: Economic statistics, modeling and forecasting
okr.themeSocial protection and risk management :: Improving labor markets
okr.themeEconomic management :: Macroeconomic management
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicPoverty Reduction::Achieving Shared Growth
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.unitGMF - East Asia and Pacific 1 (GMF02)
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