Page 162 - Official Year Book 2020
P. 162
MALAYSIAN ECONOMIC 2020
The EMR 2020 is a technical publication focusing
on the Bank’s economic assessments and
forecasts.
O158 FFICIAL YEAR BOOK 2020 The global economic recovery is The rollout of the National COVID-19
gaining momentum. There has been Immunisation Programme will improve
considerable progress in containing confidence and support the economic
the COVID-19 pandemic, underpinned recovery. Malaysia's integration in
by rollouts of vaccination programmes fast-growing segments of global value
in many countries, which are lifting chains and diversified external trade
confidence and signalling a gradual structure, as well as continued policy
return to normalcy. Policy stimulus support would be key factors in driving
continues to provide support to the rebound in economic growth in
economic activity. International 2021. While heightened downside
trade has also recorded significant risks to growth remain, the immediate
improvements. policy focus of the Bank is to facilitate
a strong and sustainable recovery and
For Malaysia, the expectation is for minimise permanent output losses.
the economy to recover in 2021, with Monetary policy in 2021 will therefore
growth ranging from 6.0 - 7.5 percent. remain accommodative to support an
Growth will be underpinned by stronger enhanced and sustained economic
external demand and higher private and growth. Although headline inflation is
public expenditure. expected to rise, it will be driven mainly
The EMR 2020 is a technical publication focusing
on the Bank’s economic assessments and
forecasts.
O158 FFICIAL YEAR BOOK 2020 The global economic recovery is The rollout of the National COVID-19
gaining momentum. There has been Immunisation Programme will improve
considerable progress in containing confidence and support the economic
the COVID-19 pandemic, underpinned recovery. Malaysia's integration in
by rollouts of vaccination programmes fast-growing segments of global value
in many countries, which are lifting chains and diversified external trade
confidence and signalling a gradual structure, as well as continued policy
return to normalcy. Policy stimulus support would be key factors in driving
continues to provide support to the rebound in economic growth in
economic activity. International 2021. While heightened downside
trade has also recorded significant risks to growth remain, the immediate
improvements. policy focus of the Bank is to facilitate
a strong and sustainable recovery and
For Malaysia, the expectation is for minimise permanent output losses.
the economy to recover in 2021, with Monetary policy in 2021 will therefore
growth ranging from 6.0 - 7.5 percent. remain accommodative to support an
Growth will be underpinned by stronger enhanced and sustained economic
external demand and higher private and growth. Although headline inflation is
public expenditure. expected to rise, it will be driven mainly
