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THE government will likely reduce spending in the upcoming federal budget as concerns over a new wave of Covid-19 cases are expected to put further pressure on revenues already hurt by low crude oil prices.Putrajaya had rolled out stimulus packages worth RM305 billion since the start of the pandemic and had raised its debt-to-GDP ceiling to 60% for the first time in over a decade last August.Last year’s budget set aside RM297 billion for both operating and development expenditures, a drop of 5.6% compared to Budget 2019, due to expectations of a revenue shortfall by about 7%. ....
Mara may face hefty bill for Badlisyah's exit themalaysianreserve.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themalaysianreserve.com Daily Mail and Mail on Sunday newspapers.
Govt advised to take threat of losing FDI seriously 16 Jul 2021 / 10:30 H. PETALING JAYA: It is a warning that Malaysia ignores at its own peril. This is the view shared by economist Tan Sri Ramon Navaratnam in response to indications by foreign investors that they may be forced to pull out of the country if the Covid-19 pandemic and lockdown persist. Ramon, who spoke with theSun yesterday, also wondered if these were all signs of a crumbling economy. “If FDI (foreign direct investments) are pulled out, it will be disastrous for our economy,” he said. “I am aware that many have already countered the narrative that Malaysia is a failed state. However, with such (possibility of investors pulling out) coming to light, I cannot help but worry about the future of our nation,” he added. ....
13 Jul 2021 / 10:40 H. Pix for representational purpose only. KUALA LUMPUR: While the country is going through various challenges, it is unfair to label Malaysia as a “failed state”, according to several economists. Sunway University professor of economics Dr Yeah Kim Leng said people in the government, especially those involved in battling the pandemic and economic downturn, are without a doubt doing their utmost best to save lives and protect livelihoods. “Despite the prevailing law and order, ongoing delivery of public services and well-functioning markets, though interrupted intermittently by lockdowns, the country has been unfairly stigmatised by the ‘failed state’ label,“ he told Bernama in an interview. ....
Pix for representational purpose only. -Bernama PETALING JAYA: While the Covid-19 virus may be blamed for the massive job losses following the closure of many businesses, various industry players opine that the government could have done more to reduce the blow. Mohd Effendy Abdul Ghani, deputy president of the Malaysian Trades Union Congress, told theSun that the various lockdowns have undoubtedly caused this widespread job losses. “The government must look at things with a ‘helicopter view’ and should not just implement a nationwide blanket lockdown because not all states are facing a surge of Covid-19 cases,” he added. He pointed out that states such as Terengganu and Perlis are not facing massive numbers of infections and should not be punished with lockdowns. ....