Malaysia’s open economy, which is export-based, must be ready to face the consequences if the slowdown becomes a protracted global recession. theSun theSundaily economy people assist Malaysia
Barjoyai said the government can improve public perception of the economy by making use of the monthly and quarterly data that it collects about how households and businesses view the economy. – BernamapicThe government needs to reassess its policies to assist the people, considering the global economic slowdown is also affecting Malaysia, said Universiti Tun Abdul Razak economist Dr Barjoyai Bardai.
“This is a very important indicator because it will provide the government with information about what needs to be done to help improve public view of the economy.” The 2023 Edelman Trust Barometer released during the World Economic Forum last week pointed out that Malaysians’ trust in the economy dropped by 20 percentage points since the 2022 edition, and is currently at an all-time low.
In his New Year speech, Prime Minister Datuk Seri Anwar Ibrahim reiterated his pledge that economic revival and improving the people’s living standards are top priorities. Last week, he launched the Malaysia Madani blueprint for his administration to realign the country’s direction. He said people had hoped the war in Ukraine would end quickly and there would be a peace dividend, but that did not happen and the war continues and is hurting the global economy.
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