Consumer spending key to economy’s resilience

by: Prof. Yeah Kim Leng, Director of Economic Studies Program at Jeffrey Cheah In­stitute on Southeast Asia

Malaysia’s higher-than-expected gross domestic product (GDP) growth of 5.6 per cent in the first quarter has been accompanied by the further strengthening of consumer spending. Often referred to as household spending, total consumer spending is denoted by private consumption in the national accounts that show how the country’s income is used.

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Joint Jeffrey Cheah Institute (JCI) – Malaysian Economic Association (MEA) Seminar: Revisiting the New Economic Model (NEM) – Lags and Prospects

Malaysia’s economy grew at an annual average rate of 7.7% in the 1970-1997 period, and so the official expectation in 2001 was that the economy would grow an average of 7.5% in the 2001-2010 period. The outcome has been disappointing as growth only averaged 4.6% annually in 2001-2016.

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Budget measures to spur investment, employment

by: Prof. Yeah Kim Leng, Director of Economic Studies Program at Jeffrey Cheah In­stitute on Southeast Asia

Like the snake-and-ladder board game, after a steady climb in the global competitiveness ranking to 18th position last year from 25th position in 2012, the recently released Global Competitiveness Report 2016-2017 by the World Economic Forum (WEF) shows Malaysia’s ranking had slid back to where it had been before.

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Look beyond Budget 2017 to boost growth, competitiveness

by: Prof. Yeah Kim Leng, Director of Economic Studies Program at Jeffrey Cheah In­stitute on Southeast Asia

The 2017 Budget that will be unveiled tomorrow has riveted the nation’s attention more so this year than before. Not only has the use of social media greatly raised awareness and participation in the budgetary process, but the broadening of the taxpayer base through the consumption-based Goods and Services Tax (GST) has widened interest on what, why and how the revenue collected by the government should be spent.

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