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Posted On October 26, 2017By BlackbeardIn News

Malaysia 2018 Budget: Is there any financial restraint?

PETALING JAYA: The Government is expected to exercise financial discipline even though the coming budget, which will be unveiled tomorrow, is the last one before the next general election. Economists said Prime Minister Datuk Seri Najib Tun Razak was expected to target a lower federal government budget deficit compared with 3% this year. “The overall debt levels are also expected to be lower, considering that there is a cautious outlook on the global economy and oil prices are still soft,” said an economist. Towards this end, the International Monetary FundRead More
The West could learn a thing or two 20 years after the region plunged into turmoil. Twenty years ago, I was working at the International Monetary Fund in Washington that would scramble — like almost everyone else — to understand and respond to cascading financial disruptions that would throw Asia into a deep recession. Important lessons were to emerge from an Asian miracle that was taking an unexpected turn for the worse, with frightening systemic implications. Asia painfully learned, and adapted well, and what it taught us remains valid todayRead More
Twenty years ago, Malaysia was caught up in the turmoil of a currency crisis that began in Thailand and swept across Asia, battering economies, pushing millions into poverty and forcing governments to seek emergency bailouts. Zeti Akhtar Aziz, who was chief economist of Malaysia’s central bank at the time — later becoming governor — recalls her experience of the crisis, including having to implement policies that went against the conventional economic wisdom of the time, such as pegging the currency and imposing capital controls on foreign investors. This is an abridgedRead More