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IMF: Vietnam surpasses Singapore and Malaysia to become the 4th largest economy in Southeast Asia Based on the IMF GDP data for 2020, Malaysia’s economy is now ranked 6th in ASEAN. A notable achievement by the Mahiaddin administration. Ten years ago, Malaysia was 3rd largest economy in ASEAN. Philippines and Singapore overtook Malaysia in 2015 when Najib Razak was the Prime Minister and Finance Minister focused on wealth creation. Now, Malaysia's economy is smaller than that of Vietnam.
2020 IMF GDP data:
1.Indonesia $1,059.54b
2.Thailand $510.89b
3.Philippines $362.24b
4.Vietnam $340.82b
5.Singapore $339,98b
6.Malaysia $338.28b
7.Myanmar $81.26b
8.Cambodia $25.95b
9.Lao $19.08b
10. Brunei $12.02b
The economy ranking continues to fall despite of Malaysia having so many ministers overlooking and promoting economy, development and productivity; namely, (1) Senior Minister for Finance and Economy, also the Minister of International Trade and Industry, (2) Minister of Finance, (3) Minister of Domestic Trade and Consumer Affairs, (4) Minister of Agriculture and Food Industries, (5) Minister of Plantation Industries and Commodities, (6) Minister of Energy and Natural Resources, (7) Minister of Entrepreneurship Development and Cooperative (8)😎 Minister of Rural Development and (9) Minister in the Prime Minister Office
Creating job positions and rent-seekers are the Malaysian government’s priorities not productivity. Democracy with Malaysian characteristics is doomed.
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*We are gradually moving downhill in the rankings! With current government running the country and banning this and that, making issues that affect tourism and foreign investments, we will likely go down further!