Zafrul: Projection for 2021 GDP to be revealed in August


KUALA LUMPUR: The official projection for Malaysia's 2021 Gross Domestic Product (GDP) will be announced in August, says Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said Malaysia’s fiscal deficit is expected to rise to between 6.5% and 7% of its GDP this year.

"The official projection will be announced in August together with the second half of the GDP report, where the impact of the movement control order (MCO) and the implementation of the National Recovery Plan on the economy on the first half of the year will be fully revealed," he said during his ministerial briefing at the Dewan Rakyat on Thursday (July 29).

He added that during the implementation of the lockdown recently, the country's losses were estimated to be RM1.1bil daily compared to an estimated RM2.4bil daily during the first MCO in March last year.

He said the Covid-19 pandemic had an impact on the labour market as well.

"However, the unemployment rate stood at 4.5% in May this year compared to 5.3% a year ago, the highest recorded since the 1990s," said Tengku Zafrul.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Nation

PM gave me wide powers with NRC chairman role, says Muhyiddin
Current Covid-19 stats disprove claims of Internet trolls, says Muhyiddin
Undi18 could lead to unpredictable GE15 outcome, says Fadillah
PM approves RM1mil for strengthening Sungai Kemensah riverbank
J-Kom spent RM14,500 on Covid-19 publicity efforts
Over RM1mil spent on renovations, new furniture for PM's Department
Payment being finalised to MySejahtera app developers, says PM
Health Ministry should take over management of MySejahtera app, says PAC chairman
Parliament debates stretch into night time on Tuesday (Sept 21)
Almost 400 human trafficking victims rescued this year, say police

Stories You'll Enjoy


Vouchers