The government’s positive outlook showcases their confidence in handling the virus
According to Datuk Seri Mustapa Mohamed, the minister at the Prime Minister’s Department in charge of economic affairs, the local government has been working on ways to reignite the economy and restore the country’s bearings before the pandemic began, reported PropertyGuru Malaysia.
Yet even though the country’s economy declined substantially, the authorities are optimistic about the future, predicting a full economic recovery by 2021.
“We know that the country is still dealing with the (COVID-19) health crisis. However, almost all economic sectors have reopened; the retail sector is improving while the tourism sector has yet to strengthen,” said Mustapa.
He also revealed their anticipation toward the domestic tourism sector, which is expected to expand in the next couple of months. But aside from economic recovery, the minister shared that they are also planning for economic growth.
“We had to deal with a serious economic crisis in the first quarter of 2020, with economic growth at only 0.7 percent and this will contract even further in the second quarter,” he explained.
In response, the government introduced three economic stimulus packages amounting to MYR295 billion, which was described as a “huge” amount by Mustapa since the country has not yet allocated such a big amount to manage a crisis.
Myanmar’s potential as a hub for industry supplies a glimmer of hope for real estate
“As many companies may consider switching their manufacturing facilities, existing industrial zones in Myanmar are anticipated to become enticing hotspots for investors”
Take a look inside one of Australia’s tallest skyscrapers
The breathtaking development goes high and low with panoramic residences, strata office spaces and subterranean retail options
Indigenous-led real estate development in central Vancouver fights for the marginalised
All the while easing the Canadian city’s chronic housing crisis and appealing to Asian buyers
Is Singapore still a safe haven during the pandemic?
Plagued at one point by the highest number of COVID-19 cases in the region, the Singapore property market has assumed crash position
6 of the finest places to live, dine, party and shop in Cebu
With top-notch dining and nightlife burnishing a real estate renaissance, the capital of the southern Philippines is having a moment in the sun