The Malaysian government has launched eight economic stimulus packages since the COVID-19 outbreak ─ each with a different monetary aid package ─ with the goal of protecting the people’s livelihoods and wellbeing. To accelerate Malaysia’s economic revival following the pandemic, the Budget 2022 will focus on three main areas, i.e. driving economic recovery, restoring the country’s resilience, and catalysing reforms. In order to increase the nation’s competitiveness during this challenging period, a special emphasis will be placed on measures to revitalise impacted industries such as tourism, enhance the public healthcare system as well as the scope of social protection, and elevate the digital economy.
In a recently announced revision of Malaysia’s GDP growth, Malaysia’s 2021 GDP is expected to grow between 3.0 and 4.0 percent, following a 4.5 percent contraction in 2020. This is contingent on the virus’ effective containment as well as sustained external demand. Thus, the need to build a more resilient economy in the long term is imperative.
Are the strategies and initiatives of Budget 2022 comprehensive enough to address the challenges of the people and businesses, and to ensure a sustainable recovery? Watch our expert panellists, where they shared their insights and analysis on the economy:
- YBhg. Datuk Johan Mahmood Merican, Director, National Budget Office, Ministry of Finance, Malaysia
- YB Dr. Ong Kian Ming, Member of Parliament, Bangi / Special Select Committee on Finance & Economy in the Parliament of Malaysia
- Anthony Lo, Chief Executive Officer, BNP Paribas Malaysia
- Scott Maguire, Chief Operating Officer, Dyson
- Amarjeet Singh, Asean Tax Leader, Malaysia Tax Managing Partner, Ernst & Young Tax Consultants Sdn. Bhd.
- Anil Kumar Puri, Partner & Malaysia International Tax Leader, Ernst & Young Tax Consultants Sdn. Bhd.
- Yeoh Cheng Guan, Partner & Malaysia Indirect Tax Leader, Ernst & Young Tax Consultants Sdn. Bhd.
Watch the webinar replay here:
