Malaysia's shift to targeted subsidies with its subsidy rationalisation plans and upcoming implementation of the Goods and Services Tax (GST), is a good policy that will benefit those who really need them, said World Bank Country Director Ulrich Zachau.
"What Malaysia is doing in terms of reducing untargeted subsidies and moving towards the improvement of targeted subsidies, is a good policy.
"Many beneficiaries of subsidies don't need them, they are going to lose those perks while people really in need will continue in getting them," said Ulrich, who is based in Bangkok and oversees Malaysia, Thailand, Cambodia, Myanmar and Laos markets.
He said this to reporters after attending a World Bank seminar to shed light on its "World Development Report 2014" here today.
According to Bank Negara Malaysia's Assistant Governor, Marzunisham Omar, continued fiscal reforms would ensure that the country can sustain its growth beyond only one to two years.
"Fiscal reforms will offer necessary buffer and financial resources to lessen the impact of a financial crisis, if it were to happen," he said in the seminar.
The latest "World Development Report" shows that Malaysia had done well in terms of preparedness for risks, as well as tackling macroeconomic and financial risks, according to Ulrich.
Locally, Malaysia has the challenge of facing a higher household debt compared to other countries, but it wasn't a concern that would trigger immediate financial crisis, he said.
"Malaysia is still in a good position to continue its robust growth rate," he said.
Bernama
Tue Apr 29 2014
Kedutaan China lancar lagu khas sempena sambutan jubli emas Malaysia-China
Lagu berdurasi empat minit dan 19 saat itu telah dimuat naik di laman sosial Facebook rasmi kedutaan pada Selasa.
Nurul Izzah mahu 'berguru' dengan Mohd Azizulhasni, Muhammad Shah Firdaus
The Pocket Rocket Women mahu menimba ilmu dengan Azizulhasni Awang serta Muhammad Shah Firdaus Sahrom yang berpengalaman.
Kelantan cadang adakan pakej umrah menerusi penerbangan terus dari LTSIP
Cadangan itu bukan sahaja memberi kemudahan kepada rakyat Kelantan, malah penduduk Terengganu dan empat wilayah di Selatan Thailand.
Rapid Bus, Volvo meterai MoU operasi percubaan bas elektrik
Rapid Bus Sdn Bhd dan Volvo Buses Malaysia menandatangani MoU pelaksanaan operasi percubaan bas elektrik baharu Volvo BZL-GML Eco Range.
Kerajaan mulakan usaha penggubalan Akta Keupayaan Mental
Kerajaan menerusi Bahagian Hal Ehwal Undang-Undang Jabatan Perdana Menteri (JPM) telah memulakan langkah ke arah penggubalan Akta Keupayaan Mental.
Warga Australia dipindahkan, lega pulang ke tanah air
Warga Australia yang dipindahkan dari New Caledonia yang mengalami rusuhan maut selama seminggu. memberitahu media tempatan mereka lega sebaik sahaja kembali ke tanah air pada Selasa.
Menteri ada rekod jenayah letak jawatan
Seorang Menteri Thailand, Pichit Chuenban, pada Selasa meletakkan jawatan selepas tertakluk kepada aduan undang-undang daripada senator yang boleh membawa kepada pemecatan Perdana Menteri Thailand, Srettha Thavisin atas pelantikannya.
Keranda bawa jenazah Raisi tiba di Tehran
Pegawai dan tokoh agama Iran menerima keranda Presiden Iran, Ebrahim Raisi dan beberapa individu lain di Tehran, dalam satu majlis pada Selasa.
PMX ke Jepun bermula Rabu, pertama kali sertai Persidangan Nikkei sebagai Perdana Menteri
Wisma Putra dalam kenyataan pada Selasa memaklumkan, PM Anwar menyertai persidangan tersebut atas jemputan Nikkei Inc. dan ia merupakan penyertaan pertama beliau sebagai Perdana Menteri.
Beri tumpuan kepada pelaburan dalam negeri - Dr Jomo
Kerajaan perlu memberi galakkan kepada pelaburan dalam negeri dalam usaha memacu pertumbuhan ekonomi negara.
Q&A: Apakah itu GST?
Astro AWANI menyediakan satu Q&A untuk memudahkan anda memahami pengumuman kerajaan tentang pelaksanaan GST.