Malaysia Economic Monitor, April 2012 : Modern Jobs
The Malaysian economy grew robustly in 2011, outperforming forecasts. Growth was driven by domestic demand. Public consumption picked up more than expected toward the end of the year and fixed investment was also buoyant on higher investments by pu...
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Format: | Report |
Language: | English en_US |
Published: |
World Bank, Bangkok
2017
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Online Access: | http://documents.worldbank.org/curated/en/102051468087840532/Malaysia-economic-monitor-modern-jobs http://hdl.handle.net/10986/26747 |
Summary: | The Malaysian economy grew robustly in
2011, outperforming forecasts. Growth was driven by domestic
demand. Public consumption picked up more than expected
toward the end of the year and fixed investment was also
buoyant on higher investments by public and private
companies. Private consumption spending remained strong,
sustained by solid consumer credit, civil service bonus
payments, and firm commodity prices benefiting smallholders.
Inventories were a drag on growth as post- financial crisis
restocking was completed. There is momentum to the reform
agenda, but implementation could be accelerated. The
government's transformation programs registered notable
progress, but the challenge now is to go beyond quick wins
and accelerate the implementation of more difficult, but
critical, structural reforms that lie at the core of
transforming the economy into a high-income one.
Implementation can be assisted by increasing the
coordination of related reform efforts (such as safety nets
and education), building capacity within the civil service
to lead reforms, and working towards consensus in key areas
such as educational reform, subsidy rationalization and
broadening the tax base. |
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