A woman who filmed herself arguing with the police after she verbally abused a hospital staff member was sentenced to five weeks and five days’ jail and fined S$600 on Wednesday.
Had the ringgit been stronger, the consistent downtrend in exports would have been worse, economist Geoffrey Williams said.
According to Tourism Malaysia, in the first six months of 2023, the volume of tourists from the United States was 25.4% lower than the same period in 2019. As criticism pours on the government of Datuk Seri Anwar Ibrahim for not acting on the ringgit’s sluggishness, the currency weakness could be a blessing in disguise to some extent.
In September 2023, exports dropped by 13.7% year-on-year to RM124.47bil amid slower global demand, uncertainties in commodity prices and the high base effect last year.CGS-CIMB Research economist Nazmi Idrus described the current export weakness as “cyclical in nature”, due to the weakening global export demand.
“If the export product has a low import content, then the exporter will gain. But if the import content is high, then any gain is offset by higher import prices,” he said.He said China’s economy seems to have bottomed out and is expected to inject a substantial stimulus, while in the United States, the fear of recession is overbought.“There are some signs that indicate the end of trade weakness.
“This does not mean, however, that domestic factors are at play too and at this level an action plan can be deployed,” he said.
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