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Some of the main points of the 2021 Economic Outlook report.
- The Malaysian economy is expected to recover between 6.5% and 7.5% in 2021, supported by strong economic fundamentals and a well diversified economy.
- In 2021, the service sector will recover 7%; manufacturing sector, to grow 7% in 2021 and 4.7% in 2021. In 2021, the construction sector will recover 13.9%, driven by civil engineering.
- Stimulus packages totaling RM305bil to support both households and businesses.
- Brent crude oil will average $ 42 per barrel and will recover to pre-pandemic level in the medium term.
- Gross national income will recover by 7.8% to RM1.53 trillion in 2021. Gross national saving will increase by 2% to RM335 billion,
- The consumer price index will normalize to 2.5% in 2021.
- Total employed at 15.1 million in 2020 and 15.3 million in 2021.
- The digital economy in Malaysia grew by 18.5% between 2015 and 2019 per year.
- The government is studying new laws to regulate the gig economy and to protect the welfare of gig workers.
- As of August 2020, around 140 platforms offer freelance job opportunities and concerts. 540,000 gig and active self-employed in Malaysia.
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