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연구정보

[경제] Commentary by the World Bank on Malaysia’s Budget 2021

말레이시아 국외연구자료 연구보고서 - World Bank 발간일 : 2023-11-07 등록일 : 2023-11-12 원문링크

Malaysia’s Budget 2021 comes at an especially challenging time. COVID-19 has triggered a global economic shock greater than anything the world economy has seen in a century. World Bank welcomes the overall stance of Budget 2021 and recognize the need to continue providing support to lives and livelihoods during a period when Malaysians, especially those in the B40, are under enormous stress. Additionally, the Budget introduced several new measures for upskilling, reskilling, and the employment and re-employment of workers, with particular emphasis on specific groups of workers including the youth, the long-term unemployed, the disable and those who have lost their jobs during the crisis. These necessary fiscal responses to the ongoing crisis, coupled with a persistent decline in government revenue, however, will pose a challenge to the medium-term fiscal outlook. Malaysia’s economy continues to be based on sound fundamentals and the country has the necessary depth in resources and competitive advantages to emerge stronger from the crisis. In this regard, Budget 2021 is an important milestone in the country’s efforts to recover from COVID-19. However, the path to an economic recovery is subject to continued downside risks. These notably include a slower than expected return to growth for the world economy leading to continued suppression of investors sentiment, the many uncertainties surrounding the development and deployment of COVID-19 vaccines and treatments, as well as the risk of enduring economic and social scars resulting from the recession.

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