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KUALA LUMPUR: Rampant global corruption in the public procurement sector with multiple entry point estimates that 10 per cent to 30 per cent of the cost of capital investment projects had been consumed by corruption, according to the World Bank Group.
PETALING JAYA: Malaysia will achieve a high-income economy between 2024 and 2028, but needs to improve its competitiveness, inclusiveness, efficiency and increase women participation in the workforce, according to the World Bank’s flagship report, “Aiming High — Navigating the Next Stage of Malaysia’s Development” yesterday.
TOKYO: The coronavirus pandemic is expected to lead to the slowest growth in more than 50 years in East Asia and the Pacific as well as China, while up to 38 million people are set to be pushed back into poverty, the World Bank said in an economic update on Monday.
BEIJING: China has been able to demonstrate leadership in service liberalisation both regionally and globally as cross-border trade in services has become the most dynamic part of global trade, said a World Bank official at the 2020 China International Fair for Trade in Services (CIFTIS).
KUALA LUMPUR: Following the rapid spread of Covid-19 and the heightened financial volatility, growth outlook for developing countries in the East Asia and the Pacific (EAP) region, including Malaysia, has been sharply downgraded as they face global financial shock and recession.
KUALA LUMPUR: The high-income economy status is something that is within reach for Malaysia.But beyond all that, what is of fundamental importance is the distribution of income, the standards of living and the extent of prosperity that is shared among the people.
Next two weeks seen crucial in determining magnitude of impact
KUALA LUMPUR: The government is evaluating the need for an economic stimulus package and is ready to launch the measures to deal with the effects of the 2019 novel coronavirus if necessary
KUALA LUMPUR: Malaysia is well on its way to cross the threshold into high-income and developed country status in the coming years, said the World Bank.