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Later, Malaysia enjoyed faster economic recovery compared to its neighbours. The country has recovered to the levels of the pre-crisis era – as an example, the KLCI Composite Index reached 1,896 in 2014, significantly higher than the pre-crisis record of 1,275 in 1993.
Malaysia is forecasted to have a nominal GDP of nearly half a trillion US$ by the end of 2024. [25] The labour productivity of Malaysian workers is the third highest in ASEAN and significantly higher than Indonesia, Vietnam, and the Philippines. [26] Malaysia excels above similar income group peers in terms of business competitiveness and ...
In early 2020, Malaysia faced a political crisis, [20] concurrent with the COVID-19 pandemic, leading to political, health, social, and economic disruptions. [21] [22] The 2022 general election resulted in Malaysia's first hung parliament, leading to Anwar Ibrahim's appointment as Prime Minister on November 24, 2022. [23] [24] [25] [26]
This is the Malaysia's worst hurricane disaster in history. 1997: 17 May: Cyberjaya, Malaysia's city with a science park as the core that forms a key part of the Multimedia Super Corridor, was officially launched by then Prime Minister, Mahathir Mohamad. 23 May
Malaysia has a low official unemployment rate of 3.9%. [208] Its foreign exchange reserves are the world's 24th-largest. [209] It has a labour force of about 15 million, which is the world's 34th-largest. [210] Malaysia's large automotive industry ranks as the world's 22nd-largest by production. [211]
21 September – Tuanku Abdul Halim Muadzam Shah of Kedah was elected as the fifth Yang di-Pertuan Agong. 22 September – Tunku Abdul Rahman Putra Al-Haj resigned as prime minister. 22 September – Tun Abdul Razak became the new prime minister of Malaysia. 26 September – Tun Dr Ismail was appointed Deputy Prime Minister of Malaysia.
The campaign for a "Malaysian Malaysia" was not viewed highly by the government of Malaysia and the parties in the ruling coalition of the Alliance (later the Barisan Nasional). Those against the concept of a Malaysian Malaysia cited the fact that Malaya was progressively colonised by the British from the mid-19th century to its height in 1926.
As of 2008, although Malaysia is a de jure federation, many perceive it as a de facto unitary state - power is heavily consolidated to the federal government during Mahathir Mohamad's term as prime minister. [1] Some suggest that opposition triumphs in several of the 2008 state elections will alter the political climate and approach towards ...