Whether it’s the property market or the stock market, let’s understand that economy situation will bolster or pull down the confidence level. With economic growth, businesses usually do better. Businesses are also more willing to invest and expand which will boost the employment market too. People are more willing to spend instead of trying to save every but they could if they feel that bad economic situations are coming. With a higher consumption, the retail sector will also do well and this will help the economy too. This is why every time there are good news about the economy, even the foreigners have a higher interest with Malaysia. Q2 2019 will be good, according to our Finance Minister Lim Guan Eng.
Article in themalaysianreserve.com Finance Minister Lim Guan Eng said that the government is confident of achieving a healthy economic expansion for the second quarter of 2019 (2Q19). With this, the government may consider an expansionary budget to fuel economic growth. Lim shared that there’s also a generally low and stable inflation currently too. He added that the government will continue to prioritise economic growth and will consider an expansionary budget to ensure the rakyat’s economic wellbeing, while achieving shared prosperity.
The eyes are now focused on the 2020 budget which is scheduled to be tabled in Parliament on Oct 11. Based on what Lim said, fiscal stimulus could be introduced. Recently, many mega projects have been revived, including the multibillion-ringgit East Coast Rail Link and Bandar Malaysia developments. Bank Negara Malaysia also opted to lower the Overnight Policy Rate by 25 basis points to 3% in May 2019 and this is expected to help with the domestic consumption. Please do read the full article with more details here.
Okay, just go out there and spend if necessary. Property market is definitely a long term necessity for all working professionals. Unfortunately, many in the M40 and the B40 household categories will just have to ensure that they do not need to keep paying rental once their income stops and they do not have other streams of passive income, yet. Here’s one recent article on passive income. (click to read) With the economy on track as per our Finance Minister, if we are business owners, perhaps it’s time to build up the business further. All the best to all of us yeah. By the way, with the mega projects continuing, many of the people who are waiting for direction may now have a direction to follow. Happy following.
<Featured Image is courtesy of Stock Photos from Kheng Guan Toh>
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