Global economic conditions have stabilized relative to earlier in the year, but the sharp slowdown in economic activity in the first half of the year indicates that real GDP will decline in 2020. The last Article IV Executive Board Consultation was on February 22, 2021. economy by 2020 The 11th Malaysia Plan (2015)6 Myanmar Annual Financial Report 2020 For the Year Ended March 31, 2020 Financial Summary P1 Management's Discussion and Analysis of 2020), the global economy was solid overall despite such uncertainties as the deceleration of the Chinese economy arising from U.S.-China trade frictions and geopolitical risks. Prepared by . This report presents Malaysias achievements on selected Malaysias Annual Economic Growth Rate and GNI Per Capita, 19702014 9 But the economic disruption has also energized several opportunities. Economic Report 2019/2020. Section II briefly reviews the economic implications of The economy of Malaysia is the fourth largest in Southeast Asia according to the International Monetary Fund 2020.It is also the 36th largest economy in the world. Unless otherwise stated, the time series in the figures extend through, for daily data, June 9, 2020; for monthly data, May 2020; and, for quarterly data, 2020:Q1. Economic and geopolitical insight guiding the worlds organisations. Malaysia's general govt revenue to rise 11.3% to RM312.7 bil in 2019. The 2020 edition of the Economic Outlook for Southeast Asia, China and India: Rethinking education for the digital era was prepared by the Asia Desk of the OECD Development Centre. In the reports Global Islamic Economy Indicator that covers 81 countries this year Malaysia, Saudi Arabia, the UAE, Indonesia, and Jordan lead the rankings. Mohamad announced his Vision 2020, with the aim of making Malaysia a fully developed country by the year 2020. To achieve this vision, access to higher education needed to be greatly expanded, and quickly, so that Malaysias human capital pool could be enlarged to match the expected increase in demand for talents. Almost 70% of countries covered by The Economist Intelligence Units Democracy Index recorded a decline in their overall score, as country after country locked down to protect lives from a novel coronavirus. The Paths of Recent Economic Indicators and Equity Prices Have Diverged: Although recent economic data have been weak, with employment down 12.5% from February to May 2020 (Figure 1.2), equity market performance coming off recent lows in March 2020 has been notable. Development Plan, 2016-2020 (2016)5 Malaysia Elevating the countrys status to a developed economy by 2020 The 11th Malaysia Plan (2015)6 Myanmar People working together to The report also says "The electronic equipment, petroleum, and liquefied natural gas producer will see a substantial increase in income per capita. 2020. 6 The actual figures will be in the forthcoming IMF World Economic Outlook 2020, for release on 14 April 2020. Economic Survey 2020-21 Volume 2 | A 3 Table 1.2. In QI 2020, Malaysia's GDP grew marginally at 0.7 per cent, the lowest since Q3 2009 partly due to the response of slow down of economic activities to contain the COVID-19 pandemic. However, during the Consequently, the by the 1Malaysia spirit, to propel Malaysia into the next level of high growth. Policies should focus on medium-term fiscal consolidation, while safeguarding growth and financial stability. 71% of total disability-adjusted life-years) were found to be among the top contributors to disability in Malaysia. economic growth in 2020 beyond anything experienced in nearly a century. At the heart of this unprecedented economic challenge is the consequential threat to lives, as well as risk of increased poverty and long-term systemic damage to our socio-economic fabric. None of us will see gender parity in our lifetimes, and nor likely will many of our children. Unless otherwise stated, the time series in the figures extend through, for daily data, June 9, 2020; for monthly data, May 2020; and, for quarterly data, 2020:Q1. This is an annual report produced in conjunction with the Regional Security Office at the U.S. Embassy in Kuala Lumpur. The current plan, the Eleventh Malaysia Plan 20162020 (11MP), is thus premised on the three goals of NEM. As the world recovers from this crisis, wider connectivity and better networks will become a priority for consumers, enterprises and governments. 2 Yet, for Malaysia to fully realise its potential of a developed nation, whether it be by 2020 or after, it The draft report was discussed at a meeting of the Economic and Development Review Committee on 24 April 2019, with participation of representatives of the Malaysian authorities. Estimates indicate the virus reduced global economic growth in 2020 to an annualized rate of -3.4% to -7.6%, with a recovery of 4.2% to 5.6% projected for 2021. It charts the development of the nation for the next five years, anchored on should not raise taxes to offset the economic slowdown, which could jeopardise the recovery of the industry and the digital economy. United Nations University (UNU)/United Nations Institute for Training and Research (UNITAR) co-hosted SCYCLE Programme, International Telecommunication Union (ITU) & International Solid Waste Association The Tenth Malaysia Plan houses the aspirations of both the Government Transformation Programme and the New Economic Model, premised on high income, inclusiveness and sustainability. The Tenth Malaysia Plan houses the aspirations of both the Government Transformation Programme and the New Economic Model, premised on high income, inclusiveness and sustainability. and heritage.The Federation of Malaysia comprises 13 states in Peninsular Malaysia, and Sabah, Sarawak in east Malaysia. The Mobile Economy Asia Pacific 2020 Executive Summary 3 This Additional Prihatin SME Economic Stimulus Package 2020 (ESP3), valued at RM10 billion, includes: An additional RM7.9 billion for the Wage Subsidy Program; and. This years report updates all indicators as of October 1, 2020 and builds evidence of the links between legal gender equality and womens economic inclusion. The year 2021 is projected to be a turning point for the global economy, from a period of deep recession that and will remain central in supporting the economy Malaysias GDP to rebound in 2021 sonnhlgCmp Monetary stimulus Malaysia 2020 Crime & Safety Report. HOW OUR ECONOMY WILL FARE IN 2020 Malaysian economy to grow 4.8% in 2020 vs 4.7% in 2019. Malaysia's total debt, liabilities rose to RM1.17 tril as at end-June. Malaysia, the Central Bank of Malaysia, released its 2019 Economic and Monetary Review on April 3rd 2020, projecting that the countrys GDP growth in 2020 would be between -2.0% and +0.5%3, significantly lower than the same number in 2019 (4.3%)4, and that the unemployment rate would increase to 4%, significantly higher than the unemployment rate Release Date : Thursday 22, April 2021 1200 Informal Sector Work Force Survey Report, Malaysia, 2019. ASEAN Sustainable Development Goals Indicators Baseline Report 2020 Jakarta, ASEAN Secretariat, November 2020 338.927 1. For 2020, the comparison of April to July youth labor market data reflects the seasonal trend of increased youth labor force participation over the period, the employment losses this past spring due to the coronavirus pandemic and efforts to contain it, and the employment gains from the partial resumption of economic activity through July. 2020 Economic and Monetary Review. note: This report reflects information that was publicly available as of 2 p.m. EDT on June 10, 2020. Social Economics SDG ISBN 978-602-5798-92-4 ASEAN: A Community of Opportunities for All December 2020: Sowing the Seeds. I sincerely hope that Asian Development Outlook 2020, with its near-term economic perspective and medium- to long-term policy recommendations, will be useful for policy makers in Asia and the Pacific toward developing economic and social policies to overcome the crisis, and to make each country even more resilient, innovative, and inclusive. Malaysia has ratified the Trans-Pacific Partnership and is an active participant in the ASEAN Economic Community which came into force in January 2016. The Malaysian economy is stable despite domestic and external challenges. ASEAN Statistics Data Collection 2. Annual Growth Rates of Gross National Income and Net National Income (per cent) Gross national income Net national income Per capita net national income Year Current prices Constant prices Current prices Constant prices Current prices Constant This STEO assumes U.S. GDP will grow by The stronger growth is underpinned by resilient domestic demand, particularly household spending thanks to stable labour market and low inflation. All trends point towards Structural reforms are needed to Economic and Social Council Progress towards the Sustainable Development Goals Report of the Secretary-General Summary In accordance with General Assembly decision 70/1, the Secretary-General, in cooperation with the United Nations system, has the honour to transmit the 2020 report on progress towards the Sustainable Development Goals. We work with our clients to help them navigate the increasingly complex global environment, to analyse political and economic developments, forecast economic trends, and understand country specific regulations and business practices. This combined health and economic shock is bound to reshape the global economic, political and social environment in which we all live and work. The paper is organized as follows. UNEVEN SITUATION OF MALAYSIAS LABOUR FORCE IN 2020 DUE TO THE HEALTH CRISIS AND ECONOMIC CONSEQUENCES. This report presents an overall framework of the NEM for transforming Malaysia from a middle income to an advanced nation by 2020. Global trade is estimated to have fallen by 5.3% in 2020, but is projected to grow by 8.0% in 2021. The Indonesia Economic Prospects (IEP) is a six-monthly World Bank report that aims to provide an impartial and up-to-date assessment of recent global and domestic macroeconomic developments, as well as specific development challenges for the Indonesian economy. The publication benefited from discussions with the ASEAN Secretariat. The Malaysian Economy in Figures 2020 Economic Planning Unit, Prime Ministers Department Revised as at June 2020. by the 1Malaysia spirit, to propel Malaysia into the next level of high growth. 2016 . 9 The agreement also stipulates that Malaysia cut 109,000 b/d from August to December 2020. OSAC encourages travelers to use this report to gain baseline knowledge of security conditions in Malaysia. Meanwhile, inflation in EMDEs is projected at 4.8% in 2019 and In 2019, exports are expected to expand 4.7% in 2020 due to slower wage growth. 1 Foreword 4 Key Highlights ii annual rEPOrt 2019. decelerated since 2018 due to increasing global trade tensions, economic uncertainty, and the coronavirus disease (COVID-19) shock. The economic condition of Malaysia in terms of these tools is discussed ahead. And this coming year perhaps more so than any year since we started will see fluctua-tions in abundance. 7 See the report of the National Economic and Development Authority (19 March 2020) on Addressing the Social and Economic Impact of the COVID-19 Pandemic, www.neda.gov.ph ASEAN Economic Community where there is a free flow of goods, services, investment, and freer flow of capital, equitable economic development, and reduced poverty and socio-economic disparities in year 2020. Labour Force Survey Report, Malaysia, 2020. The authorities are making progress on their reform agenda including governance reforms and measures to improve the transparency and management of public finances. Consequently, the In 2020, Malaysia's economy is projected to contract by 3.1 percent. 2 Worker Ownership, COVID-19, and the Future of the Gig Economy EXECUTIVE SUMMARY Based on a summer 2020 survey with 302 workers for app-based gig companies in Cali-fornia, this report presents the impact of COVID-19 on those workers and their reactions to new models of worker ownership in the gig economy. 1. Economic Report 2019/2020. The pace of growth has been unprecedented, leading to a revision of our own estimates. Executive Board Assessment 2 The best way to view this report is with Adobe Acrobat Reader. In 2020, Malaysia volunteered to cut its crude oil production by 136,000 b/d from May to July 2020 to comply with the April 15 OPEC+ agreement. It was against this backdrop that Malaysia instituted the Movement Control Order (MCO). Malaysia Telecoms Industry Report at a Glance The Malaysian telecommunications market is a thriving mobile market with four large network operators, an incumbent fixed-line provider with near-monopoly and the overall market underpinned by strong economic fundamentals, albeit some political uncertainties. In bar charts, except as noted, the change for a given period is measured to It charts the development of the nation for the next five years, anchored on Download PDF. The research did not receive funding from external sources. In bar charts, except as noted, the change for a given period is measured to Main imports 2. 2020 accounted for a larger share at 18.6% of total trade compared to 17.2% a year ago. Economic Planning Unit, Prime Minister's Department . The Malaysia Economic Monitor series provides an analytical perspective on the policy challenges facing the country as it grows into a high-income and developed economy. The International Monetary Fund (IMF) forecasts the global economy to contract 4.4% in 2020, the worst recession since the Great Depression. National Economic Recovery Plan. Following are some highlights from finance minister Lim Guan Engs speech and the economic report: BUDGET - 2020 revenue collection to fall 7.1% to 244.53 billion ringgit ($58.44 billion) The previous Economic Assessment of Malaysia was issued in November 2016. Table 2 reports the CUPI and its related information for ASEAN countries during the two decades since the Asian financial crisis (1998-2018). Thats the sobering finding of the Global Gender Gap Report 2020, which reveals that gender parity will not be attained for 99.5 years. Against the backdrop of heightening external headwinds, domestic demand is expected to spearhead growth increase by 4.8% in 2020 after Economic and Financial Developments in Malaysia in the 4th Quarter of 2020. Digital Economy Report 2019 [English] - Value Creation and Capture: Implications for Developing Countries (UNCTAD/DER/2019) 04 Sep 2019. Formerly, This situation has resulted in Malaysia recording an economic growth of 4.3% in 2019, the weakest growth since global financial crisis of 2009. Govt revenue for 2020 to 2022 set to be 15% of GDP. 1996 2001 2006 2011 2016 2021-8-6-4-2 0 2 4 %-8-6-4-2 0 2 4 % GDPGrowth Year-ended Quarterly Source: ABS March 2021 G D P C o n s u m p t i o n D w e l l i n g i n v e s t m e n t M i n i n g i Our first report was written in the aftermath of the Brexit vote and went to press the morning after Donald Trump had been elected president of the United States. In 2003, Malaysia had faced a similar situation with the outbreak another coronavirus This years report, e-Conomy SEA 2019 Swipe up and to the right: Southeast Asias $100 billion Internet economy, shows that the Internet economy has, for the first time, crossed the $100 billion mark. According to a HSBC report, Malaysia will become the world's 21st largest economy by 2050, with a GDP of $1.2 trillion (Year 2000 dollars) and a GDP per capita of $29,247 (Year 2000 dollars). urban population: 77.2% of total population (2020) rate of urbanization: 2.13% annual rate of change (2015-20 est.) economy Malaysia included remains at its mercy. Highlights | Download report (pdf) December 2019: Making Ends Meet. World Health Statistics 2020 sheds light on the progress towards relevant SDGs and their implications in the midst of the current COVID-19 emergency. This is aimed at creating a level playing field in the digital sector. ECONOMIC PLANNING UNIT 3 CONTENTS FOREWORD EXECUTIVE SUMMARY 01 UNDERSTANDING LOGISTICS AND TRADE FACILITATION LANDSCAPE 1.1 Definition 1.2 Significance of the Industry 1.3 Malaysias Strengths 1.4 Malaysias Regional Standing 1.5 Issues and Challenges 02 MAKING IT HAPPEN: STRATEGIES AND ACTION PLAN 2.1 Strategy Shift 1: Strengthening the pointed out in the 11MP, the critical enabler in driving and sustain Malaysias economic growth towards the status of an advanced nation is its people (Malaysia, 2015). 6 The Social and Economic Impact of COVID-19 in the Asia-Pacific Region Executive summary 1 ILO (2020). Highlights | Download report (pdf) June 2020: Surviving the Storm. Purwanto (eds. Mohamad announced his Vision 2020, with the aim of making Malaysia a fully developed country by the year 2020. The e-Conomy SEA 2020 report sheds light on the Internet economy in the region, covering Singapore, Indonesia, Malaysia, the Philippines, Thailand and Vietnam. Malaysia has a rather short time to prepare for the transition into an aged nation. The Malaysian Economy in Figures . ), The Influence on Energy and the Economy of Electrified Vehicle Penetration in ASEAN. MONTHLY ECONOMIC REPORT; Year January February March April May June July August September October November December ; 2021 : View ( 1.08 MB ) view ( 1.17 MB ) view ( 1.27 MB ) view ( 1.53 MB ) view ( 1.89 MB ) view ( 2.12 MB )