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The economy of Malaysia is an emerging and developing, upper-middle income, highly industrialised, mixed economy.It ranks the 36th largest in the world in terms of nominal GDP, however, when measured by purchasing power parity, its GDP climbs to the 30th largest.
In addition, the Malaysian economy contracted 5.6% for all of 2020, its worst performance since the 1998 Asian Financial Crisis. [ 6 ] The travel, hospitality and entertainment sectors were particularly hit hard by the COVID-19 pandemic but the ecommerce, technology and healthcare sectors thrived despite facing supply chain disruptions.
Download as PDF; Printable version; ... Pages in category "Economy of Malaysia" ... APEC Malaysia 2020; ASEAN–China Free Trade Area; B.
The blueprint is a continuation to the 11th Malaysia Plan with a clear strategic direction to allocate the national budget from 2021 to 2025 in regard to all economic sectors in Malaysia. The blueprint was tabled by Prime Minister Ismail Sabri Yaakob in Dewan Rakyat, Parliament on 27 September 2021. [2]
One of the most significant events in the history of the Malaysian economy was the Asian financial crisis, which caused Malaysia's GDP to shrink from US$100.8 billion in 1996 to US$72.2 billion in 1998. The Malaysian economy's GDP did not recover to 1996 levels until 2003. [17] The year 1997 saw drastic changes in Malaysia.
This included a New Economic Model, subsidy reforms, international free trade agreements and stimulus packages. However, in the later stages of his administration, Malaysia experienced an economic downturn and a depreciation of the Malaysian Ringgit due to the 1Malaysia Development Berhad scandal (1MDB).
"Terima Kasih Frontliners" (literally means "Thank You Frontliners") mural at Pendang, Kedah. The Government of Malaysia along with various non governmental organisations (NGOs), companies, and foreign governments introduced various financial aid and relief programs in response to the economic impacts of the COVID-19 pandemic in Malaysia.
The Ninth Malaysian Plan (Malay: Rancangan Malaysia ke-9), abbreviated as '9MP', is a comprehensive blueprint prepared by the Economic Planning Unit (EPU) of the Prime Minister's Department and the Finance Ministry of Malaysia with approval by the Cabinet of Malaysia. The plan allocates the national budget from 2006 to 2010 in regard to all ...