KUALA LUMPUR (July 15): Malaysia’s finance minister said the 2020 budget will take into account risk scenarios caused by the continuing US-China trade war even as the nation’s economy shows signs of resilience.
“The government recognizes the downside risk that exists from a slower global growth, especially when Malaysia’s top trade partners are experiencing an economic slowdown,” Lim Guan Eng said in a statement Saturday.
Malaysia, which will table its annual outlay on Oct 11, is taking a business-friendly approach to capitalize on a reorientation in the global supply chain, Lim said. That could lead to investment or trade diversions to Malaysia, he said. Industrial growth is topping market expectations while domestic demand growth is solid, the minister said.