WRITING has been on the wall for a while now that from an economic standpoint, we’re experiencing crunch time. Low oil prices and shrinking global demand are some of the factors forcing a “new normal” of slower economic growth the world over.
In addition to being an oil producing country, Malaysia as a nation that trades heavily with the rest of the world – with total trade at 151.9% of our gross domestic product (GDP) in 2015, will inevitably be affected by the drop in global consumption.
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Idris Jala
Datuk Seri Idris Jala is CEO of Pemandu and Minister in the Prime Minister’s Department. Fair and reasonable comments are most welcome at idrisjala@pemandu.gov.my
