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Apr 25, 2022 · Black money, like it or not, is also funding our economy. Malaysia’s shadow economy consists of 21 percent of the country’s gross domestic product (GDP), according to the finance minister.
- Akhbar Satar
- So What Is The Shadow Economy?
- So Why Is It A Problem?
- What Are We to Do About It?
A shadow economy can be described as an informal means of production, distribution, and the consumption of goods and services that either goes unreported or is entirely illegal in nature. According to Pankajkumar, the shadow economy is basically made up of two parts; legal and illegal. Let say you work a standard 9 – 5 job with an income that is le...
The existence of a shadow economy creates many repercussions for the country. Besides costing the nation billions of ringgit in lost tax revenue, the black market also casts a dark image on the country’s international reputation and impacts the market in a way that forces businesses to shut down from lack of profits – evidently causing the unemploy...
Overall, the shadow economy is highly damaging towards the general state of the country, but there are ways to counter it, as the economist would move to explain;
- Akmal Hakim
Jan 13, 2020 · Malaysia’s black economy is RM300 billion or 21% of GDP. MALAYSIA. By MT Webmaster On Jan 13, 2020. (Bernama) – Malaysia’s shadow economy accounts for 21 per cent of gross domestic product (GDP) and amounts to an estimated RM300 billion, says Finance Minister Lim Guan Eng.
May 17, 2024 · PUTRAJAYA, May 17 — Transport Minister Anthony Loke Siew Fook today insisted he did not deceive Parliament in March when he said an Opposition lawmaker’s claim about the planned deal to privatise the Malaysian Airport Holdings Berhad (MAHB) was just an “assumption”.
Sep 9, 2020 · KUALA LUMPUR – Perdagangan haram atau pasaran gelap adalah ancaman besar dan semakin meruncing terhadap rakyat Malaysia apabila kerajaan dan perniagaan sah dilemahkan manakala pengguna pula terdedah kepada produk yang tidak bermutu dan tidak terkawal.
Getty. The US Justice Department has reached an agreement with fugitive financier Jho Low to return more than $100m (£79m) allegedly embezzled from Malaysia’s state-owned wealth fund as part of ...
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Information concerning Malaysia's efforts to tackle money laundering, terrorism financing and the financing of the proliferation weapons mass destruction, including recent reports and Ministries and national authorities involved in FATF work.
