Malaysia's economy is continuing to see growth, but the pace of expansion has moderated. Growth slowed to 4.4 percent in Q3 2019, as subdued global conditions and heightened uncertainty continued to weigh on the economy.
... Exibir mais + Investment and trade activity was softer than expected during the quarter, and indicators suggest overall business sentiment remains muted. In 2020, Malaysia's economy is projected to expand at a relatively moderate pace, amid continued uncertainty and external headwinds. The GDP growth rate is projected to reach 4.5 percent in 2020. Investment is expected to improve but remain subdued over the near term, with both the public and private sectors adopting a cautious stance towards capital spending. Similarly, the softness in export growth is likely to persist into next year, mirroring the continuing subdued global growth. Short-term policies should focus on measures to boost resilience and protect the vulnerable. Federal debt has increased, and government revenue as a share of GDP is expected to decline further next year. In the context of a more uncertain economic environment, it is vital for Malaysia to preserve fiscal space to enable it to mitigate the impact of any negative shocks to the economy. Increased progressivity in the personal income tax framework and an expansion of current tax measures could enable the government to both increase revenues and improve redistribution. Malaysia's weakening trade and investment activity, amid challenging external conditions, underscores the need to improve private sector confidence and strengthen investment competitiveness. With sluggish global demand and increased protectionist tendencies among the majoreconomies, a sustained commitment to deepening regional integration and addressing trade barriers is vital to preserve a vibrant trading environment and build investors' confidence. It is also important to strengthen Malaysia's competitiveness in attracting quality investments and to maximize the gains from tax expenditures with better targeting of investments towards economic upgrading, high-value job creation and inclusive growth.
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Atualizações e modelagem econômicas 144194 DEC 01, 2019
Record,Richard James Lowden; Chong,Yew Keat; Teh Sharifuddin,Shakira Binti; Simler,Kenneth; Binti Ali Ahmad,Zainab; Harrison,Dao H; Bandaogo,Mahama Abdel Samir SidbewendeDisclosed
Malaysia's economy is continuing to see growth, but the pace of expansion has moderated. Growth slowed to 4.4 percent in Q3 2019, as subdued global conditions and heightened uncertainty continued to weigh on the economy.
... Exibir mais + Investment and trade activity was softer than expected during the quarter, and indicators suggest overall business sentiment remains muted. In 2020, Malaysia's economy is projected to expand at a relatively moderate pace, amid continued uncertainty and external headwinds. The GDP growth rate is projected to reach 4.5 percent in 2020. Investment is expected to improve but remain subdued over the near term, with both the public and private sectors adopting a cautious stance towards capital spending. Similarly, the softness in export growth is likely to persist into next year, mirroring the continuing subdued global growth. Short-term policies should focus on measures to boost resilience and protect the vulnerable. Federal debt has increased, and government revenue as a share of GDP is expected to decline further next year. In the context of a more uncertain economic environment, it is vital for Malaysia to preserve fiscal space to enable it to mitigate the impact of any negative shocks to the economy. Increased progressivity in the personal income tax framework and an expansion of current tax measures could enable the government to both increase revenues and improve redistribution. Malaysia's weakening trade and investment activity, amid challenging external conditions, underscores the need to improve private sector confidence and strengthen investment competitiveness. With sluggish global demand and increased protectionist tendencies among the major economies, a sustained commitment to deepening regional integration and addressing trade barriers is vital to preserve a vibrant trading environment and build investors' confidence. It is also important to strengthen Malaysia's competitiveness in attracting quality investments and to maximize the gains from tax expenditures with better targeting of investments towards economic upgrading, high-value job creation and inclusive growth.
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Atualizações e modelagem econômicas 144219 DEC 01, 2019
Record,Richard James Lowden; Chong,Yew Keat; Teh Sharifuddin,Shakira Binti; Simler,Kenneth; Binti Ali Ahmad,Zainab; Harrison,Dao H; Bandaogo,Mahama Abdel Samir SidbewendeDisclosed
China's economy is slowing, reflecting cyclical factors and longer-term structural trends. Notwithstanding the recent conclusion of the phase one agreement between China and the United States, short-term risks remain tilted to the downside amid a fragile global outlook and the lingering impact of trade tensions, especially on confidence.
... Exibir mais + Adverse demographics, tepid productivity growth, and the legacies of excessive borrowing and environmental pollution will continue to weigh on growth over the medium term. If downside risks lead to a sharp reduction in growth, the authorities have policy space to act, but this needs to be done in a way that is consistent with reducing financial and corporate sector risks and achieving the desired rebalancing of the economy toward consumption and private investment. The key medium-term priorities are to deepen structural reforms to strengthen productivity growth and private investment, while accelerating rebalancing toward consumption, services, and green growth. This would require addressing market distortions and mainstreaming environmental sustainability into China's medium-term development strategy. Implementation of these priorities would boost China's long-term growth prospects; it would also help move toward a more comprehensive and lasting resolution of remaining deep-seated disagreements on global trade and investment, and public goods agenda.
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Atualizações e modelagem econômicas 144518 DEC 01, 2019
China's economy is slowing, reflecting cyclical factors and longer-term structural trends. Notwithstanding the recent conclusion of the phase one agreement between China and the United States, short-term risks remain tilted to the downside amid a fragile global outlook and the lingering impact of trade tensions, especially on confidence.
... Exibir mais + Adverse demographics, tepid productivity growth, and the legacies of excessive borrowing and environmental pollution will continue to weigh on growth over the medium term. If downside risks lead to a sharp reduction in growth, the authorities have policy space to act, but this needs to be done in a way that is consistent with reducing financial and corporate sector risks and achieving the desired rebalancing of the economy toward consumption and private investment. The key medium-term priorities are to deepen structural reforms to strengthen productivity growth and private investment, while accelerating rebalancing toward consumption, services, and green growth. This would require addressing market distortions and mainstreaming environmental sustainability into China's medium-term development strategy. Implementation of these priorities would boost China's long-term growth prospects; it would also help move toward a more comprehensive and lasting resolution of remaining deep-seated disagreements on global trade and investment, and public goods agenda.
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Atualizações e modelagem econômicas 144518 DEC 01, 2019
Iraq’s economy is gradually rebounding in 2019. GDP grew at 4.8 percent year on year in the first half of 2019, reversing the contraction observed in the past two years.
... Exibir mais + Growth comes mainly at the back of a rise in crude oil production (up 6.3 percent so far) and a rebound in non-oil economicactivity. The latter is underpinned by better rainfall and record agriculture yields, an improvement in electricity production, and an expansionary fiscal policy linked to growing wage bill and public consumption. Such positive developments are expected to bring the overall realGDP growth to an estimated 4.6 percent by end-2019, reversing a 0.6 percent contraction in 2018, with the non-oil economy likely to accelerate over 5 percent. Iraq’s economy has outperformed that of regional peers this year, but its population dynamics requires much higher growth to sustain current level of welfare. Despite recent improvements, Iraq continues to be in need of humanitarian assistance as more than 1.5 million Internally Displaced Persons (IDPs) are yet toreturn home. The Government of Iraq (GoI) maintains a policy of fiscal loosening based on expandingsubsidies and the public sector wage bill to ensure social peace amidst weak private sector job creation. In the absence of clear structural reforms and accelerated reconstruction efforts, growthrecovery in Iraq may be short-lived. This is particularly the case given the oil markets outlookwhere both prices and exports are expected to weaken given softer global demand and the uncertaintyaround the renewal of the OPEC agreement. Risks over the medium-term continue to be present both on the upstream and downstream. Lack of diversification and budget rigidities linked to the public sector wage bill reduce Iraq’s financial buffers and increase its vulnerability to external shocks. They also threaten to further delay reconstruction and outdo the recent positive government efforts especially in the electricity and agriculture sectors. Creating an adequate fiscal space for growth-enhancing programs will be key for diversification and job creation, without which the impressive increases in oil production will mean little for most Iraqis. With IDPs returning to their homes, there will be an increasing need to open economic opportunities and maintain flexible social assistance in these parts of the country.
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Atualizações e modelagem econômicas 142768 OCT 20, 2019
Iraq’s economy is gradually rebounding in 2019. GDP grew at 4.8 percent year on year in the first half of 2019, reversing the contraction observed in the past two years.
... Exibir mais + Growth comes mainly at the back of a rise in crude oil production (up 6.3 percent so far) and a rebound in non-oil economicactivity. The latter is underpinned by better rainfall and record agriculture yields, an improvement in electricity production, and an expansionary fiscal policy linked to growing wage bill and public consumption. Such positive developments are expected to bring the overall realGDP growth to an estimated 4.6 percent by end-2019, reversing a 0.6 percent contraction in 2018, with the non-oil economy likely to accelerate over 5 percent. Iraq’s economy has outperformed that of regional peers this year, but its population dynamics requires much higher growth to sustain current level of welfare. Despite recent improvements, Iraq continues to be in need of humanitarian assistance as more than 1.5 million Internally Displaced Persons (IDPs) are yet toreturn home. The Government of Iraq (GoI) maintains a policy of fiscal loosening based on expandingsubsidies and the public sector wage bill to ensure social peace amidst weak private sector job creation. In the absence of clear structural reforms and accelerated reconstruction efforts, growthrecovery in Iraq may be short-lived. This is particularly the case given the oil markets outlookwhere both prices and exports are expected to weaken given softer global demand and the uncertaintyaround the renewal of the OPEC agreement. Risks over the medium-term continue to be present both on the upstream and downstream. Lack of diversification and budget rigidities linked to the public sector wage bill reduce Iraq’s financial buffers and increase its vulnerability to external shocks. They also threaten to further delay reconstruction and outdo the recent positive government efforts especially in the electricity and agriculture sectors. Creating an adequate fiscal space for growth-enhancing programs will be key for diversification and job creation, without which the impressive increases in oil production will mean little for most Iraqis. With IDPs returning to their homes, there will be an increasing need to open economic opportunities and maintain flexible social assistance in these parts of the country.
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Atualizações e modelagem econômicas 142768 OCT 20, 2019
Growth moderated in Q1 2019, owing to weaker investment growth and inventory drawdowns.Domestically, an easing of export growth, together with a decline in investment, has resulted in Malaysia's economic growth becoming more dependent on consumption.
... Exibir mais + In 2019, Malaysia's economy is expected to expand at a relatively moderate rate, with risks tilted towards the downside. The GDP growth rate is projected to reach 4.6 percent in 2019, 0.1 percentage points lower than in the previous forecast, reflecting weaker-than-expected investment and export activity observed in Q1 2019. Potential risks to growth include those related to escalating trade tensions, a sharper than-expected slowdown in major economies, as well as volatility in financial and commodity markets. Relatively high levels of private and public debt also pose risks to growth. In the short term, policies should focus on boosting resilience and protecting the vulnerable. In an environment of growing uncertainty, it is particularly important to rebuild fiscal policy buffers, to facilitate private investment, and to ensure adequate social protection for low-income and vulnerable households. In the medium term, bold reforms will be needed to boost human capital and to raise productivity. As Malaysia proceeds on its transition to a high-income and developed economy, incremental growth in incomes will be increasingly dependent on improvements in human capital and productivity. In turn, this will require a multi-year reform agenda to improve the quality of workforce skills and learning outcomes from the education system. The Malaysia Economic Monitor (MEM) consists of two parts. Part 1 presents a review of recent economic developments and a macroeconomic outlook. Part 2 focuses on a selected special topic that is key to Malaysia's medium-term development prospects and the achievement of shared prosperity. In this edition, the focus of the special topic is on re-energizing the public service to better enable it to facilitate Malaysia's future development.
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Atualizações e modelagem econômicas 138390 JUN 01, 2019
Record,Richard James Lowden; Chong,Yew Keat; Teh Sharifuddin,Shakira Binti; Bajpai,Rajni; Govindasamy,JeevakumarDisclosed
Growing risks weigh on the economic outlook. On the external front, a slowing global economy, rising concerns regarding the impact of US-China trade tensions and increased volatility in financial and commodity markets all weigh on the prospects for Malaysia’s economy.
... Exibir mais + On the domestic side, increased reliance on oil-related revenue amid heightened uncertainty around the commodity price forecasts and relatively high levels of private and public debt pose risks to growth. Efforts to sustain growth in the near term have to be carefully balanced with the need to restore fiscal buffers. In the short term, fiscal consolidation efforts are expected to be driven primarily by measures to reduce expenditure. However, efforts to broaden the tax base, to diversify revenues away from unstable oil and gas revenues, and to introduce greater progressivity, will require a multi-year reform agenda. Restoring fiscal buffers will be necessary to ensure that Malaysia is better prepared to respond to future macroeconomic shocks. The Mid-term Review of the 11th Malaysia Plan and the 2019 budget outline the Pakatan Harapan government’s new priorities, with an emphasis on strengthening governance and improving accountability. The government has also expressed a commitment to reform the role of the state in business to level the playing field and to unlock future productivity growth. Reforms to increase the effectiveness of pro-inclusion expenditure programs have the potential to achieve greater impact with lesser public resources. The Malaysia Economic Monitor consists of two parts. In this edition, the focus of the special topic is on realizing human potential. Accelerating human capital development will be critical for enabling Malaysia’s successful transition to a high-income and developed nation. With the advent of digital and other disruptive technologies, there has been a significant changein the nature of jobs, with an increasing premium on higher-order cognitive skills, such as complex problem solving, socio-behavioral skills, reasoning and self-efficacy. Building these skills requires a transformation in the way that Malaysia nurtures, invests and protectsits human capital. According to the World Bank’s new Human Capital Index, Malaysia ranks 55th out of 157 countries. While Malaysia performs well in some components of the index, it does less well in others. To fully realize its human potential, Malaysia will need to make further advances in education, health and nutrition, and social protection outcomes. Key priority areas include enhancing the quality of schooling to improve learning outcomes, rethinking nutritional interventions to reduce childhood stunting, and providing adequate social welfare systems to enable households to invest in human capital formation.
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Atualizações e modelagem econômicas 132903 DEC 13, 2018
Record,Richard James Lowden; Chong,Yew Keat; Teh Sharifuddin,Shakira Binti; Aturupane,Harsha; Teo,Hui Sin; Schmillen,Achim Daniel; Moroz,Harry EdmundDisclosed
The historic outcome of Malaysia's recent elections provides an unprecedented opportunity for change. The country's 14th General Elections which took place on May 9, 2018, in the context of widespread citizen concern regarding the degree to which the proceeds of economic growth have been shared across the Malaysian society and a call for increased government accountability, have resulted in the nation's first change in government since its independence in 1957.
... Exibir mais + The new government's emerging economic policy framework is strongly guided by its election manifesto Buku Harapan, which responds to these popular sentiments. Heightened uncertainty amid the political transition exacerbated the ongoing turbulence in the financial markets arising from external factors. In the period between the elections and end-May, Malaysia's 5- and 10-year sovereign spreads against US Treasuries increased by 24 and 27 basis points respectively, while the stock market fell by three percent. Meanwhile, RM19 billion of foreign capital was withdrawn from the domestic financial markets in May as post-election market turbulence coincided with heightened investor uncertainty about the emerging markets asset class. However, since then volatility in the financial markets has been largely driven by external factors amid increased global trade tensions, as the uncertainty surrounding the political transition has gradually reduced.
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Atualizações e modelagem econômicas 127679 JUN 01, 2018
Record,Richard James Lowden; Chong,Yew Keat; Teh Sharifuddin,Shakira BintiDisclosed
This Malawi Economic Monitor (MEM) provides an analysis of economic and structural development issues in Malawi. The aim of the publication is to foster better-informed policy analysis and debate regarding the key challenges that Malawi faces in its endeavor to achieve high rates of stable, inclusive and sustainable economic growth.
... Exibir mais + The MEM consists of two parts: Part 1 presents a review of recent economic developments and a macroeconomic outlook. Part 2 focuses on a special selected topic relevant to Malawi’s development prospects. In this edition, the special topic focuses on Social Safety Nets. Safety nets are playing an increasing role in promoting equity, strengthening resilience, and improving long-term human capital outcomes. There is now robust evidence to demonstrate that social safety nets can be an efficient means to break the cycle of poverty and vulnerability in Malawi. The key messages of this edition of the MEM are about economic recovery and cautious optimism.
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Atualizações e modelagem econômicas 126663 MAY 01, 2018
In this edition of the Malaysia Economic Monitor, the focus of the special topic is macro-financial policy. This year marks 20 years since the onset of the Asian financial crisis (AFC), which caused a major shock to Malaysia's economy.
... Exibir mais + At the time, Malaysia's policy response was considered unorthodox. This response included the imposition of selective capital controls, counter-cyclical fiscal policies as well as bank and corporate restructuring. Yet with the passage of time, many of these policies have become part of the standard toolkit for policymakers in both developing and developed economies when faced with a crisis. Malaysia's experience, both during the crisis and in the years since, offers important insights for other countries. While sharing a common destination, not all East Asian countries took the same path towards a more resilient set of macro-financial policies. Clearly not all of Malaysia's experience is likely to be transferable to the specific contexts of other countries, but there are useful lessons for other highly open trading economies that are exposed to the risks associated with international capital flows.
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Atualizações e modelagem econômicas 122007 DEC 01, 2017
Record,Richard James Lowden; Ping,Alan Lau Sie; Zaourak,Gabriel Roberto; Chong,Yew Keat; Zhang,Wei - GFM08Disclosed
The Malawi Economic Monitor (MEM) provides an analysis of economic and structural development issues in Malawi. The aim of the publication is to foster better-informed policy analysis and debate regarding the key challenges that Malawi faces in its endeavor to achieve high rates of stable, inclusive, and sustainable economic growth.
... Exibir mais + Malawi’s economy is primarily based on agriculture and heavily reliant on its land resources to achieve social and economic development. The recently promulgated land acts have the potential to create multiple economic and social benefits for Malawi's citizens by improving investor confidence in the business environment, reducing the cost of documenting rights, supporting decentralization, improving land use planning, and protecting vulnerable groups’ land rights and livelihoods. The effective implementation of these critical land reforms will ultimately facilitate the attainment of inclusive growth, boost productivity, and generate additional revenue for the government. The MEM consists of two parts: part one presents a review of recent economic developments and a macroeconomic outlook. Part two focuses on a special selected topic relevant to Malawi’s development prospects.
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Atualizações e modelagem econômicas 121419 NOV 01, 2017
Kandoole,Priscilla Flaness; Record,Richard James Lowden; Deininger,Klaus W.; Stylianou,Eleni; Kalemba,Sunganani VioletDisclosed
The Iran Economic Monitor provides an update on key economic developments and policies over the past six months. It examines these economic developments and policies in a longer-term and global context, and assesses their implications for the outlook for the country.
... Exibir mais + Its coverage has ranged from the macroeconomy to financial markets to indicators of human welfare and development. It is intended for a wide audience, including policy makers, business leaders, financial market participants, and the community of analysts and professionals engaged in Iran.
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Atualizações e modelagem econômicas 117165 JUN 30, 2017
The Iran Economic Monitor provides an update on key economic developments and policies over the past six months. It examines these economic developments and policies in a longer-term and global context, and assesses their implications for the outlook for the country.
... Exibir mais + Its coverage has ranged from the macroeconomy to financial markets to indicators of human welfare and development. It is intended for a wide audience, including policy makers, business leaders, financial market participants, and the community of analysts and professionals engaged in Iran.
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Atualizações e modelagem econômicas 117165 JUN 30, 2017
Malaysia’s economic growth expanded strongly in first quarter (1Q) 2017. Gross domestic product (GDP) growth rate for 2017 is expected to accelerate to 4.9 percent, slightly above the government’s current projection range of 4.3 to 4.8 percent.
... Exibir mais + The current account surplus has declined (1Q 2017: 1.6 percent of GDP; 4Q 2016: 3.8 percent of GDP) due to strong import growth. Gross imports growth, mainly of capital and intermediate goods, outpaced the significant increase in gross exports, resulting in a lower goods surplus. The current account surplus is projected to narrow further to 1.6 percent of GDP in 2017. Monetary policy is expected to remain accommodative and supportive for growth. The higher growth trajectory projected for 2017 opens up room to accelerate reduction in the fiscal deficit. Risks to the economy in the short-term stem mainly from external developments. Focus on implementing further structural reforms to raise the level of potential growth should continue. This include looking into measures to raise the level of productivity, encourage innovation, invest in new skills, leverage digital technologies, and continue ongoing efforts to improve efficiency of public service delivery.
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Atualizações e modelagem econômicas 116032 JUN 01, 2017
The Malawi Economic Monitor (MEM) provides an analysis of economic and structural development issues in Malawi. This edition of the MEM was published in May 2017.
... Exibir mais + It follows on from the four previous editions of the MEM, and is part of an ongoing series, with future editions to follow twice per year. The aim of the publication is to foster better-informed policy analysis and debate regarding the key challenges that Malawi faces in its endeavors to achieve high rates of stable, inclusive and sustainable economic growth. The MEM consists of two parts: Part 1 presents a review of recent economic developments and a macroeconomic outlook. Part 2 focuses in greater depth on a special, selected topic relevant to Malawi's development prospects.
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Atualizações e modelagem econômicas 115253 MAY 25, 2017
Record,Richard James Lowden; Kandoole,Priscilla Flaness; Choi,Narae; Stylianou,Eleni; Kalemba,Sunganani Violet InglêsDisclosed
The MEM is the World Bank's biannual flagship publication on Malaysia. It provides analysis of recent economic developments and the near-term outlook for Malaysia.
... Exibir mais + Each publication also focuses on a special topic related to Malaysia's transformation into a high-income economy. Malaysia is at the forefront of a "new generation" of trade agreements that will shape trade and investment over the next decade. The 14th MEM focuses on how Malaysia can use trade agreements to bring new opportunities to the Malaysian economy and accelerate its transition to high income status.
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Atualizações e modelagem econômicas 106711 JUN 01, 2016
This report consists of two parts: Part 1 presents a review of recent economic developments and a macroeconomic outlook. Part 2 focuses in greater depth on a special, selected topic relevant to Malawi's development prospects.
... Exibir mais + This report focuses on agricultural risk management. Malawi is now set to suffer a second year of poor harvests due to the effects of a drought that is sweeping Southern Africa. This drought has had a serious impact both on the economy and on food security, requiring a major humanitarian response. The current situation underscores Malawi's serious need to improve the resilience of the agricultural sector and to develop a better system of risk management. With the country expected to continue to face climate-induced shocks into the future, it is vital that the Government considers how best to mitigate the impact of such shocks. In 2015 Malawi recorded a GDP growth rate of just 2.8 percent, with this low rate the result of both adverse weather conditions and macroeconomic instability. Flooding in southern districts followed by a countrywide drought resulted in a contraction in agricultural production. Maize, the key crop in terms of food security, recorded a 30.2 percent year-on-year drop in production. As a result, an estimated 2.8 million people (17 percent of the population) were unable to meet their 2015/16 food requirements.
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Atualizações e modelagem econômicas 106501 MAY 01, 2016
Record,Richard James Lowden; Kandoole,Priscilla Flaness; Hoglund Giertz,Asa Margareta G.Disclosed
After two years of strong economic growth and macroeconomic stability, Myanmar faced a more difficult economic environment in 2015-2016. In 2015-2016, economic growth in Myanmar eased to 7 percent amid a supply shock from heavy flooding, a slowdown in new investment flows during an election year, and a more challenging external environment including lower commodity prices affecting Myanmar’s main exports.
... Exibir mais + The May 2016 edition of the MEM takes stock of recent economic developments, policy challenges, economic prospects, and upcoming policy priorities. Economic growth in 2016-2017 is expected to pick up, with a premium on sound macroeconomic policies and continued structural reforms.
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Atualizações e modelagem econômicas 105944 MAY 01, 2016
