{"id":8714,"date":"2020-07-14T16:19:04","date_gmt":"2020-07-14T09:19:04","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=8714"},"modified":"2021-06-04T15:04:18","modified_gmt":"2021-06-04T08:04:18","slug":"malaysian-government-predicts-full-economic-recovery-by-2021","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/malaysian-government-predicts-full-economic-recovery-by-2021\/","title":{"rendered":"Malaysian government predicts full economic recovery by 2021"},"content":{"rendered":"

Th<\/span><\/span>e government\u2019s positive outlook\u00a0<\/span><\/span>show<\/span><\/span>case<\/span><\/span>s\u00a0<\/span><\/span>their\u00a0<\/span><\/span>confidence in handling the virus<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
The old town of Malacca and the Malacca river. LeonidAndronov\/Shutterstock<\/figcaption><\/figure>\n

According to Datuk Seri Mustapa Mohamed, the minister at the Prime Minister\u2019s Department in charge of economic affairs, the local government has been working on ways to reignite the economy and restore the country\u2019s bearings before the pandemic began, reported PropertyGuru Malaysia<\/a>.<\/p>\n

Yet even though the country’s economy declined substantially, the authorities are optimistic about the future, predicting a full economic recovery by 2021.<\/p>\n

\u201cWe 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,\u201d said Mustapa.<\/p>\n

More: Asia Property Awards (Malaysia) winners help the nation cope amid the COVID-19 crisis<\/strong><\/a><\/p>\n

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.<\/p>\n

\u201cWe 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,\u201d he explained.<\/p>\n

In response, the government introduced three economic stimulus packages amounting to MYR295 billion, which was described as a \u201chuge\u201d amount by Mustapa since the country has not yet allocated such a big amount to manage a crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government\u2019s positive outlook showcases their confidence in handling the virus <\/p>\n","protected":false},"author":9,"featured_media":20646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[125,881,576],"class_list":["post-8714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-malaysia","tag-outlook","tag-property-outlook","news_country-malaysia","news_author-property-report"],"acf":[],"yoast_head":"\nMalaysian government predicts full economic recovery by 2021 | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/malaysian-government-predicts-full-economic-recovery-by-2021\/\" 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