Anyone who visits Malaysia will quickly come to realize that Malaysians are blessed with enormous talent, ranging from the myriad of entrepreneurs creating new businesses online to those active in the creative industries including music, culture and sports. But there is also still a widespread sense that Malaysia is not making the most of its human capital, with concerns that despite large investments in education and health, the returns are not as high as they should be, and that a large share of Malaysians are still being left behind.
East Asia Pacific’s (EAP) strong economic performance over the past few decades has significantly benefited and empowered women in the region, bringing better health and education and greater access to economic opportunities. To celebrate International Women’s Day, we are featuring 12 women in the region who embody the advancements women have made in EAP, despite the many barriers that remain for them at work.
Surpassing all other developing regions, EAP’s female-to-male enrollment ratio for tertiary education is currently 1.2, with the ratio of secondary education access nearly equal for girls and boys. But
Illicit trade in tobacco products undermines global tobacco prevention and control interventions, particularly with respect to tobacco tax policy. From a public health perspective, illicit trade weakens the effect of tobacco excise taxes on tobacco consumption - and consequently on preventable morbidity and mortality - by increasing the affordability, attractiveness, and/or availability of tobacco products. Furthermore, tobacco illicit trade often depends on and can contribute to weakened governance.
- Antigua and Barbuda
- Virgin Islands, British
- St. Kitts and Nevis
- St. Lucia
- St. Vincent and the Grenadines
- South Africa
- Trinidad and Tobago
- United Kingdom
- East Asia and Pacific
- Latin America & Caribbean
- South Asia
- Europe and Central Asia
In this context, how can civil servants and leaders holding office, particularly the ones who prepare budgets, manage this challenge?
The unveiling of Malaysia’s much-anticipated 2019 budget last Friday by the Minister of Finance, Lim Guan Eng comes at a challenging time for the country. On the external side, Malaysia’s exports are facing growing headwinds – as opposed to the fair winds of recent years – due to heightened trade tensions and slower global growth. On the domestic front, a new emphasis on addressing the stock of government debt and contingent liabilities is likely to narrow fiscal space and prevent public investment from driving economic activity as it did before. In this situation, Malaysia will depend more on private consumption and investment to support economic growth in the next few years.
To mark this year’s End Poverty Day, the World Bank has released its biennial Poverty and Shared Prosperity Report “Piecing Together the Poverty Puzzle”, which documents the dramatic reduction in extreme poverty achieved from 1990 to 2015. In the span of 25 years, the share of people around the world living in extreme poverty line fell from 36% to 10% (from 1.9 billion to 736 million), despite the global population growing from 5 to 7 billion.
Malaysia wants the digital economy to play a central role in the next chapter of the country’s development—that much is clear. However, what may be less clear is why taxation should be part of the policy mix that will help deliver the country’s digital economy ambitions. This is important because taxes raise the cost of doing business rather than reducing it.