Malaysia needs reforms to prepare for the future – BNM Gov
Published on: Saturday, July 27, 2019
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Kuala Lumpur: Malaysia needs to urgently embark on a structural reform to rebuild the country’s strengths and prepare for the future, said Bank Negara Malaysia Governor Datuk Nor Shamsiah Mohd Yunus.She said the reform should begin with addressing the country immediate economic vulnerabilities and complemented by efforts to raise longer-term growth potentials.
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Among the vulnerabilities are enhancing Malaysia’s fiscal position, reducing imbalances in the property market and strengthening household resilience to ensure sustainability of future growth, he added.
“Today, with the global landscape changing more rapidly than ever, with rising protectionism and political efficacy, continued implementation of the structural reform will be paramount for Malaysia to secure a strong foothold in the future,” she said at Malaysian Economy Symposium at Parliament House here on Friday.
The inaugural symposium themed “Present and Future” was jointly organised by the Office of the Speaker of Dewan Rakyat, the Backbenchers Council and the Parliamentary Caucus on Reform and Governance.
Nor Shamsiah said Malaysia must interact fast in introducing reforms to reduce the current economic complexity by creating high-value jobs, extend domestic linkages, develop new and bolster existing economic cluster, and improve inclusivity. – Bernama
