China News Service, Kuala Lumpur, September 30. According to data released by the Ministry of Finance of Malaysia on the 30th, due to the impact of the new crown pneumonia epidemic, the country's gross domestic product in the first half of the year fell by 8.3% over the same period last year.
The Malaysian government will further introduce measures to stimulate economic recovery in the upcoming budget for next year.
Malaysian Prime Minister Muhyiddin presided over the Fiscal Policy Committee meeting on the same day.
The members of this committee include the prime minister, the minister of finance, the minister in charge of the economy in the prime minister's department, and the president of the national bank.
In a statement issued after the meeting, the Ministry of Finance of Malaysia expected that with the restart of economic activities and the introduction of a number of economic recovery measures, Malaysia’s economic growth will improve in the second half of the year.
It is estimated that Malaysia’s GDP for the whole year will drop by 3.5% to 5.5% compared with last year; and it will resume to a growth of 5.5% to 8% next year.
The statement said that the Fiscal Policy Committee meeting also discussed next year's budget to be launched next month, and plans to include a number of measures to promote economic recovery in the budget.
The Ministry of Finance also stated in the statement that the meeting of the Fiscal Policy Committee determined that the next stage of work will focus on strengthening economic growth and introducing "high-quality investment."
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