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Inflationary pressures remained benign, and, as a result, Bank Negara Malaysia, the central bank, had been able to follow a low interest rate policy. The Malaysian economy recovered from the 1997 Asian Financial Crisis sooner than neighbouring countries, and has since recovered to the levels of the pre-crisis era with a GDP per capita of $14,800.
Malaysia is forecasted to have a nominal GDP of nearly half a trillion US$ by the end of 2024. [25] The labour productivity of Malaysian workers is the third highest in ASEAN and significantly higher than Indonesia, Vietnam, and the Philippines. [26] Malaysia excels above similar income group peers in terms of business competitiveness and ...
The New Economic Policy (NEP) which began with the Second Malaysia Plan (1971–1975) and lasted until the Fifth Malaysia Plan (1986–1990), had three main objectives, namely: [1] To achieve national unity, harmony and integrity; Through socio-economic restructuring (of the society) To minimize the level of poverty in the country (poverty ...
The National Zoo of Malaysia which known as "Zoo Negara" was officially opened. 21 November: The Malaysian Houses of Parliament, which known as "Bangunan Parlimen" was officially opened. 28 December: Television of Malaysia was launched by the then Prime Minister, Tunku Abdul Rahman. 1964: 25 April
Reformasi is a political movement in Malaysia. It was initiated in September 1998 by Anwar Ibrahim , former Deputy Prime Minister of Malaysia , after he was sacked from his position by Malaysia's then- Prime Minister , Mahathir Mohamad .
Gangga Negara was a semi-legendary Hindu kingdom mentioned in the Malay Annals that covered present-day Beruas, Dinding and Manjung in the state of Perak, Malaysia with Raja Gangga Shah Johan as one of its kings. [61]
In view of economic slowdown amid the financial crisis of 2007–2010, Prime Minister of the then ruling Barisan Nasional (BN) government, Najib Razak in August 2009, stated that in order for Malaysia to achieve a developed nation status by 2020, the country has to grow at an annual rate of 8% over the next 10 years.
Although Malaya was effectively governed by the British, the Malays held de jure sovereignty over Malaya. A former British High Commissioner, Hugh Clifford, urged "everyone in this country [to] be mindful of the fact that this is a Malay country, and we British came here at the invitation of Their Highnesses the Malay Rulers, and it is our duty to help the Malays to rule their own country."