KUALA LUMPUR, Jan 13 — Citigroup Global Market forecast that Malaysia will go into a technical recession likely in fourth quarter of 2008 and first quarter of 2009.
It also downgraded its gross domestic forecast (GDP) for 2009 to 0.5 per cent from 3.1 per cent.
The government official GDP forecast is 3.5 per cent.
In a media briefing on Malaysia’s Market Outlook for 2009 here today, it said that there could be a cut between 50-75 basis point in overnight policy rate in the first quarter of 2009.
According to Citigroup, GDP for 2010 is estimated at 4.2 per cent, while fiscal balance is forecast at minus five per cent in 2009 and minus 4.5 per cent in 2010.
GDP for quarter four 2008 is forecast at two per cent.
Despite the downgrade forecast by Citigroup, Second Finance Minister Tan Sri Nor Mohamed Yakcop was earlier reported as saying that the government was confident that the country would not be experiencing a technical recession this year.
He said the country’s economic growth was expected to stay positive during the period from January to June this year based on the equity of the financial system which exceeds 13 per cent, total liquidity which is in billions of ringgit and the low non-performing loan (NPL) rate which is at about 2.5 per cent.
Kahkahkah……. another coming from Citigroup…. From US$300 billion and now worth US$20 billion (and it’s a bail-out money)…. I won’t believe it BUT I know the lost for Citigroup will keep file-up!!!… Hohohohoho…… Happy Chinese New Year!!
Reply
Recession will not hit the BN politicians and cronies
cos they have ripped the Gomen vault. It is the Rakyat
who are going to be hit badly. That is the reason why
BN politicians say recession wont hit them.
Reply
angkasawan nasa Reply:
January 15th, 2009 at 3:57 pm
AIR ASIA makin melatah dan buat penjelasan tentang LCCT LABU. kadang kadang depa buat rakyat diperbodohkan. SIME Darby buat airport sampai 1.6 bilion tak termasuk harga tanah, kemudian jual kepada Air Asia . jelas Sime Darby di perkudakan oleh keroni UMNO persoalanya AA adalah syarikat penhutang terbesar di dunia, beli kapal terbang berpuluh puluh dengan harga 400 hingga 500 juta sebuah dengan cara berhutang dan masih berhutang dengan MAB guna kemudahan pun tak bayar. keliling pinggang hutang . persoalanya bagai mana nak berhutang pula nak beli Airport dengan harga 1.6 bilion itu kos angaran bina belun lagi SD punya keuntungan nak dibeli oleh AA hutang!!!!!!!!!!!!!??? dan harga tanah tak tahu berapa harga pun AA nak beli dengan Hutang!!!!!!!!??????????? jadi kita gelar AA AK 1001 Asia Karut. dalam surat khabar hanya sebut para pelabur dan lembaga pengarah serta AA.SD.MAB langsung tak sebut nama Rakyat yang turut telibat melalui ASN dan ASB selaku pemegang SD. kenapa hak rakyat tidak di sebut dalam akhbar . kenapa!!?? takut.
Reply
gengis khan Reply:
January 15th, 2009 at 7:33 pm
Angkasawan nasa, dalam UMNO BN ni segalanya mungkin. Satu ketika dahulu LUTH beli berberapa bangunan dengan harga yang tak masuk akal? dan ada kemungkinan Air Asia beli dengan harga tak masuk di akal(lebih rendah dari harga bina air port tersebut) sebab UMNO ni segalanya mungkin. bukan kah malaysia ini namanya malaysia boleh!!. maka rakyat tipah tertipu lagi.!!!!
Reply
ulam batar Reply:
January 17th, 2009 at 12:01 am
Ya saya juga bersetuju dengan angkasawan nasa, kita bukan menolak kemajuan tetapi biarlah ianya logik di akal pembenaan dua airport brhampiran dari susut perniagaan dan dan seterusnya tidak economical. sedangkan airport sedia ada KLIA telah di bina dengan keupayaan mendatang yang cukup besar landasan sedia ada boleh di tambah atau di panjangkan sehingga menbolehkan Airbus Super jumbo landed KLIA juga dibina dengan keluasa masa depan apa yang menbuat Air Asia begitu kemaruk adalah dasar mereka yang tidak mahu berkongsi tempat dengan MAS dan mahu lari dari bernaung di bawah MAB alasan yang di beri MAB punya kelemahan!! sedangkan MAB bukan sahaja menguruskan Lapangan tempatan bahkan di beberapa lapangan terbang lain di dunia.UMNO sering mengalakan perkongsian pintar tetapi amat malang keroni mereka tidak meguna pakai asuhan UMNO keroni mereka serinhg bercakaran sesama mereka dan berebut peluan mengunakan apa sahaja peluang yang ada di tangan GLC.Kita lupa dalam kita menbena gedung, lapangan , dan labuhan kita lupa kita berpijak di bumi rakyat dan menjujung langit luas tempat rakyat mendongak melihat kapal terbang. UMNO telah meletakan kepentingan segologan kecil dan memalingkan arah dari memandang rakyat yang melata.harapan kita semoga Sime darby menbatalkan usaha ini dan satu kajian yang lebih halaus amat perlu di adakan dari semua pihak . lagi bai wang 1.6 billion itu SD buat JV dengan MAB dan menaik taraf KLIA termasuk menbena sebuah low kos Hotel (transit hotel yang mana sewa megikut jam bukan day) bagi memudahkan KLIA di jadikan airport transit untuk penunpang segar semula sebelum meneruskan pejalanan. apa maknanya hanya megunakan 3 atau 4 jam tetapi kena bayar harga satu hari ini lah kunci utama KLIA telah gagal menjadi sebuah airport transit sebelah asia. KLIA telah ada asas yang cukup gamat untuk dinaik taraf tetapi amat malang UMNO tak tahu berniaga mereka hencurkan wang GLC dengan membenarkan keroni mereka melahab apa yang ada di dulang GLC dari wang, saham,tanah dan sebagainya oleh itu renungkanlah rakyat yang pintar..
Reply
kublai khan Reply:
January 18th, 2009 at 4:28 pm
Ok kita lihat !! dan tunggu apa komen Pengerusi PNB. induk kepada Sime darby . Bekas KSN Tan Sri Ahmad Sarji. (orang yang telah kecewakan penduduk Tapah Road Perak dia atas pengambilan tanah mereka yang kononya nak bena University commonweal tapi sampai sekarang habuk pun takada) . harap MB perak lihat perkara ini jika ada sebarang pecah amanah hadapkan tan Sri Ahmad Sarji ke makamah ini satu penipuan keatas rakyat Perak.
Reply
mongolian Reply:
January 19th, 2009 at 12:20 am
kung fu panda menengkah dalam soal tanah melayu yang di rampas oleh UMNO.
MB perak harus pangil Pegawai dearah tapah (batang padang) dan Pejabat Tanah Tapah supaya mereka beri taklimat tanah tanag yang di ambil,ada yang telah di sewakan kepada pihak pihak tertentu?? kemana wang ini pergi sila pejabat dearah jawab? atau pangil Tan Sri Ahmad Sarji (orang tapahI ini jawab pada MB. setatus tanah orang kampung ini.
Pajabat tanah tapah juga harus beri taklimat masalah pemgambilan tanah Peneroka felda Sungai kelah Perak secara babarian oleh TNB dengan sekutu mereka pajabat tanah tapah?? Kerajaan negeri harus beri tanah ganti kepada peneroka yang telibat dengan keluasan yang sama yang telah di rampas oleh TNB diatas melebarkan talian kebel kuasa tinggi mereka. sedangkan peneroka masih menbayar cukai tanah penuh termasuk yang diambil oleh TNB.rakyat pula yang bayar cukai tanah TNB ?????. malaysia boleh!!
diatas adalah sebahagian kelemahan UMNO perak dalam soalah tanah orang melayu yang dirampan oleh mereka. UMNO perak berkokok kata PR beri tanah pada kampung baru. tetapi UMNO lagi teruk melalukan rampasan tanah orang melayu di bawah sewaktu tabir mereka!!!! sila UMNO perak jawab esok sila keluakan dalam Utusan Meloya untuk menegkah semula tulisan saya kalau UMNO jantan dalam soal tanah di perak.saya cabar UMNO perak . sila kan YOP!!!!!!!!!!!
its hard to believe a good leader like u becomes a victim to all these propaganda
Reply
And those shitheads says that Malaysia will be able to withstand the economic turmoil..blah..blah..blah. Now we are backpedalling to avoid a recession. Huh…the two nimkampooks from the Minister of Finance, don’t hide behind the denials…get on and face this recession headon. For a start recognise the economic distress that we are facing, then we strategise to tackle them. Immediate measures must be formulated to address them. Action must be taken to help those affect by this recession. Tactical measures must be implemented to softened the effects and to ensure that we are don’t fall deeper into a recession.
Reply
No recession in 2009. Wanna bet? Only domestic consumption can prevent that. But are Malaysians spending?
Reply
reformist Reply:
January 14th, 2009 at 5:09 pm
No recession in 2009? You are sick! How can Malaysians spending if all “Barang Naik” and the value of the money “Malaysia Ringgit” decrease faster than before (1997)? Even if Malaysians spending, how much and how many they can afford? Wanna bet????
Reply
Bumi Ownz U Reply:
January 16th, 2009 at 5:15 pm
Sorry to say,
Domestic consumptuion merely stimulates the economy.. it doesn’t lead to economic growth.
C I G X – M = GDP
So year on year if X – M is greater and all others remain the same, you will see economic growth.
Reply
dap Reply:
February 3rd, 2009 at 8:48 pm
wat was anwar uncle said was truth… recession is hitting all over the world, why not MALAYSIA??????
Reply
Dear DSA,
With the events of March 8th , there were alot of people who have risen hopes of a unified and strong malaysia without racial politics and PKR have been sent this message by the voting results across many states . We still harbour these hopes and reading about squabbles inside the ranks of PKR , DAP and interparty disagreements is most disturbing . Take stock of the situation ; rein in the errant members , nip every problem in the bud and dont let it slide backwards . WE NEED YOU and we need you to take command and we need to win KT ..in our march towards the real MERDEKA . I speak as a patriot and a malaysian without a racial identity
Reply
DS, please make sure all the people know the truth about what happened in our country. The economy, how many people jobless…. all of these. I hope that ppl in KT will vote for PR (PAS) and give signal to govt that they hated them and will hate them more if they wont change. We are fedup with the BN rules, and we want a complete change!! Economy is getting worse, but the rich ppl are getting richer…. this is bad for the country, and from what i can see, the only place now is going to flourish is KT because of the by-election. So, we should have another PRU then… so that we can get more ppl going out, listen to ceramahs and buy more foods and merchandises…. thus, will improve the economy of the locals.
Hidup PAS, Hidup PKR, Hidup DAP… Hidup Pakatan Rakyat!!!!!!
Reply
agreed nothing less with amira,the gomen must declare the economic situation the truth nothing short of truth.Dont play act with the people,we will show our might come ge13.
Reply
What more can you do?
How does the Malaysian government feel when the US ignores Malaysia over its comments over the Isreali incursion? Now BN knows how Hindraf feels where cries for help are ignored….
There is only one word that you can place on the current administration:
Ignorant
Is the government capable in managing the economy?
The world is going through hard economic times.. do you think boycotting MacDonalds, Apple Products, Ford, Colgate, etc etc will do anything to help Malaysia? Help the Palestians?
To be perfectly honest, Malaysia has arrogant fools running its economy… where mega projects have turned to mega white elephants….
Where “showing off” and losing money is worth more than profits or achievement….
Where hypocricy, corruption, racist laws, backwards progress, poorly planned infrastructure and an ignorant adiministration reign….
Where arrogance of economuc developement is Ignorant of statistical factual evidence.
Who in Malaysia will face the real issues… push for change in LAWS to remove Racist economic policies.. Who will show leadership to go against all odds to help all Malaysian citizens…
Perhaps BN should read about Amercia’s Civil Rights movement and learn a lesson or two.
Reply
Malaysians need to breed critical thinkers…. not conformists.. not sheep… not racists.
Malaysia needs a progressive and critical culture in order to push for higher standards… to push for change… to push for a higher intellectual capability.
… singapore has this… it’s called the kiasiu culture… and their economic performance speaks for itself.
Enough of the Kampung culture. Its time to respect the past but move forward.
Reply
Wanna know why government hates to let us know we are already in recession and how they can make it worse? Read this interesting article:
http://reijb.com/recession-what-to-do/
Time is really not with BN government..
Reply