Here are some of the key points about the Malaysian economy:
Let's look at the GDP (nominal) and updated debt figures:
- The economy of Malaysia is the third-largest in Southeast Asia, after Indonesia and Thailand
- It is a newly industrialised market economy, which is relatively open and state-oriented.
- Citizens enjoy relatively lower national income tax, low cost of local food, transport fuel, household essentials, a fully subsidized single-payer public-healthcare and comprehensive social welfare benefit with direct cash transfer.
- Malaysia's growth in wages has been very slow
- Highly robust and diversified with the export value of high-tech products
Let's look at the GDP (nominal) and updated debt figures: