Malaysia was hard hit by the COVID-19 outbreak, but it has recovered relatively fast
Recent macroeconomic developments
Malaysia has become a more domestic-demand-driven economy
Private consumption has become a key component in the economy
Exports by destination and products
Mobility has been severely restricted
Malaysia seeks to control the COVID-19 outbreak
Malaysia has imposed severe restrictions on economic activities
Malaysia’s public health capacity is relatively high, and vaccination has picked up
Monetary policy has reacted promptly to the economic disruption
Recent developments in financial markets
The pandemic has rapidly worsened the fiscal position
Ageing-related spending will call for offsetting fiscal measures
Malaysia’s social spending is low relative to total expenditure
Inequality has declined, but the tax and transfer system needs to be more efficient
Malaysia's tax revenue is low and has declined
Malaysia has stepped up its anti-corruption efforts
Malaysia's anti-money laundering has progressed
Malaysia's female labour participation rate has increased rapidly
The pandemic has affected females and young workers disproportionately
The job recovery of the self-employed has been weaker than for regular employees
Female self-employed workers increased, but social protection is weak
Poverty rates are high among elderly people
Many young workers have not yet come back to the labour market
Unemployment rates vary between different generations
Malaysia provides a significant number of jobs for non-Malaysian citizens
Malaysia’s environment performance has improved, but more could be done
More liberalisation in the electricity market can be conducive to green growth