Bank Negara can afford to be more gradual in increasing the overnight policy rate (OPR) after raising the interest rate by 25 basis points to 3% following its Monetary Policy Committee meeting in May, said an economist.
The Index of Industrial Production (IIP) in May continued to recover, but enterprises are still facing difficulties due to the impact of increasing input production costs, according to the General Statistics Office (GSO).
Developing a medium-term revenue strategy (MTRS) remains an urgent priority for Malaysia as the country’s tax revenues are the lowest among the Asean-5 and Organisation for Economic Cooperation and Development peers and have been declining, says the International Monetary Fund.