EPF: Members need to work 4-6 years more to rebuild savings used during pandemic
The three exceptional withdrawals have left 73% or nearly three quarters of members in a serious state of having inadequate funds to retire above the poverty line.
The three exceptional withdrawals have left 73% or nearly three quarters of members in a serious state of having inadequate funds to retire above the poverty line.
Finance Minister Tengku Datuk Seri Zafrul Aziz: There will be a special initiative to assist Bursa Malaysia-listed companies, which will see the injection of funds into companies that have been affected by the Covid-19 pandemic via a government-owned special purpose vehicle (SPV), in the form of equity or other related instruments
This is nearly 3% more than the RM322.5 billion announced for Budget 2021.
The financial, insurance, real estate and business services sector dominated the total corporate bond issuance at 55.8%.
In 2022, consumption demand for goods and services by households is expected to be supported by expectations of improved employment conditions, while the projected growth in private investment activities and the implementation of the 12th Malaysia Plan will further augment domestic demand
The government is currently considering options to reduce the reliance on direct taxes and widen the revenue base by shifting to consumption-based tax under the Medium-Term Revenue Strategy (MTRS) framework
The growth trajectory in 2022 will also be based on expectations of further expansion in global and domestic activities, fuelled by broader vaccine coverage and a further improvement in goods trade amid a slower recovery in services trade, said the Ministry of Finance in its 2022 Fiscal Outlook report
Malaysian households borrow 41.6% more in 2021
Mean salaries and wages declined 9% to RM2,933 from RM3,224 in 2019, relegating many households’ incomes in the middle 40% (M40) category to bottom 40% (B40).
The recovery actions, the report said, consisted of negotiations with related parties, legal proceedings and civil suits, enabling the government to reduce the financial impact from 1MDB’s liabilities on the fiscal position