news

Continuation of large-scale infra projects to provide additional lift to economic growth: BNM

KUALA LUMPUR (April 3): Bank Negara Malaysia (BNM) said the continuation of large-scale infrastructure projects will provide additional lift to the economic growth amid the challenging economic conditions. 

In a press conference today, BNM estimated that capital spending on major transport infrastructure projects of about RM15 billion is expected to lift 2020 gross domestic product (GDP) by 1 percentage point (ppt). 

The total size of some key projects under construction are Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya Line, also known as MRT2 (RM30.5 billion), Light Rail Transit Bandar UtamaKlang line, Line 3 (LRT3) (RM16.6 billion), and Pan Borneo Highway (RM32.5 billion). These projects have a combined construction cost of RM79.6 billion.

On March 27, Prime Minister Tan Sri Muhyiddin Yassin said during the unveiling of the COVID-19 stimulus package that the government will continue the implementation of all projects allocated in Budget 2020 including the MRT2, East Coast Rail Link (ECRL) and the National Fiberisation and Connectivity Plan (NFCP).

Today, the central bank said Malaysia's GDP is projected at between -2% and 0.5% in 2020 against a highly challenging global economic outlook due mainly to the COVID-19 pandemic.

Stay calm. Stay at home. Keep updated on the latest news at www.EdgeProp.my. #stayathome #flattenthecurve

Click here to see residential properties for sale in Kuala Lumpur.

Click here for more property stories.

Like our content? Check out Narratives – where we curate stories based on topics to keep you well and broadly informed about Malaysian real estate.

Looking for property? Check out Location Scan, where we summarize all available options and facts you need in a few clicks. We have updated the tool to include MRT3 stations too.

Curious how much you can borrow? Use LoanCheck to get your maximum loan eligibility from various banks, or LoanReport to get a FREE CTOS/CCRIS credit report.
SHARE
RELATED POSTS
  1. i-Serve Online Mall requests BNM to clarify 'factually incorrect' press statement on joint action enforcement
  2. BNM: Malaysia not facing stagflation; growth to accelerate in 2022
  3. Malaysia headed for economic recovery, says DBS