Boosting the purchasing power of consumers is important

In the report, Moody’s emphasised that: “In an unpredictable environment, growth and credit risks are tilted to the downside”.First of all, the right interpretation should be that credit-negative of the global economy in 2020 would somewhat weaken our economic fundamentals and essentially lead to its economy vulnerable and less resilience to external shocks.

It is indeed a challenging task for the government to achieve its targeted gross domestic product growth of 4.8 per cent next year.This is where I believe the government should consider to launch a stimulus package to complement the 2020 Budget. Based on the Economic Outlook 2020 report, the big chunk of Malaysia’s economic growth would come from both private consumption and investment and exports of goods, comprising 38.2, 10.2, and 33.5 per cent respectively.

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