Whether “sustainability” is at the heart of post pandemic investment choices will determine whether we can truly rebuild forward more resilient and sustainable economies. Prof Yeah Kim Leng speaks at the jointly organised forum with ICMR.
As domestic and external demand recover, the Malaysian economy is projected to grow by 5.8% in 2022. However, this projected growth may be dampened by the rise of new COVID-19 variants, supply disruptions, and limited fiscal space. Rising vulnerabilities both at household and firm levels pose concerns to the country's recovery path. Uncertainties abound for the Malaysian economy in 2022. ASLI of Sunway University brings to you a two-part panel discussion for us to understand how to navigate the Malaysian economy in these trying times
Prof Yeah said Malaysia’s success in the 90s now needs to be tempered with effective implementation strategies, programmes and initiatives formulated in RMK-12.
Yeah Kim Leng said an investment-centred strategic thrust, comprising strategies to attract domestic and foreign direct investment, could be developed.
According to Yeah, Malaysia needs to be vigilant against imported inflation and global price shocks, even though the threat is rather limited.
Yeah Kim Leng of Sunway University said regulating and licensing online gambling would ensure that the country does not lose its tax revenue.
Prof Dr Yeah commented that Budget 2022 should ensure efficiency and effectiveness in the spending through monitoring the outcome so no one is left behind.
Dr Yeah Kim Leng voiced concern over the 3rd straight year of expansionary budgets as the debt service charge is close to the unsustainable threshold of 20%.
Prof Dr Yeah Kim Leng expects higher spending for welfare, education, reskilling and job creation programmes to sustain the economic recovery in Budget 2022.
Dr Yeah Kim Leng said the government must review the economic viability of the HSR as the break with Singapore leaves the project less feasible.