Saturday, June 20, 2009

Malaysia Economic Conditions

Latest reports on Malaysia economic conditions have confirmed that national economy has depreciated at its worst rate in a space of eight years in final quarter of 2008 fiscal. Much of these sorry Malaysian economic conditions could be blamed on rapid decline in its exports
Information on Malaysian economic conditions has revealed that it would not be possible for Malaysian government to make excess expenditures. In final quarter of 2008 fiscal gross domestic product of Malaysia appreciated at a rate of 0.1 percent compared to final quarter of fiscal 2007. This implies tough economic conditions of Malaysia in fiscal 2009. Economic conditions in Malaysia in fourth quarter of 2008 fiscal are totally different from what was case in third quarter of 2008 fiscal. In third quarter of 2008 gross domestic product of Malaysia had grown at a rate of 7.3 percent compared to third quarter 2007 fiscal. Critical nature of economic conditions at Malaysia could be gauged from economic statistics for financial years 2008 and 2007. In 2008 economy of Malaysia grew at a rate of 4.6 percent but in fiscal 2007 it had grown at a rate of 6.3 percent. Najib Razak, deputy Prime Minister of Malaysia has said that government of Malaysia would be making every effort to make sure that Malaysia economic conditions stay feasible for everyone. He said that national government would be making fresh expenditures in order to preserve jobs and also increase levels of consumer demand in Malaysia. However, he has not committed to a major amount being spent in this instance. He said that national government would be working within its limitations in order to restore parity to Malaysia economic conditions. He said that they were thinking in terms of spending in 2009 as well as 2010 fiscal, when as per predictions financial world would be making its recovery from global financial crisis. National government’s inability regarding spending sufficient funds in order to restore Malaysia economic conditions back to normal have been hindered by fact that they have been experiencing budget deficits for last couple of fiscals. In 2008 this deficit was supposed to have been equivalent to 4.8 percent of gross domestic product of Malaysia.

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