Prof Yeah expects GDP to contract in 3Q, by a low single digit.
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Prof Yeah provides commentary on a post-moratorium economic relief scenario within Malaysia's economy.
Prof Yeah said revenue diversification is one of several major structural issues facing the Malaysian government.
Prof Yeah said it was too early to withdraw expansionary fiscal support as the country was facing the third wave of the pandemic.
Prof Yeah said government support in the form of wage subsidies extension, access to funds and guarantees, and various reliefs to low business costs would be welcomed, especially by large and mid-sized firms that are considering downsizing, relocating or exiting.
Prof Yeah said the country’s recovery momentum remains intact with a better than expected GDP growth in 3Q20, although Malaysia is now officially in recession given the two consecutive quarters of contraction.
Prof Yeah pointed out that the tax incentives will make it more attractive for issuers compared conventional financing.
Prof Yeah said agreement is an affirmation of the importance of lowering trade barriers. This means prospering each other through a mutually beneficial exchange of goods and services
Prof Yeah states that the EPF withdrawals is not a good idea for low and middle-income groups
Prof Yeah said ASEAN has again demonstrated its solidarity and cohesiveness in facing the COVID-19 pandemic