Malaysia: budget for the future
Malaysia’s cement market has seen consumption slow in recent years due to political uncertainty and a mature residential market. Although COVID-19 stifled output in the 1H20, a new government and the largest budget in history for 2021 is providing much-needed hope for a rebound in cement demand and production.
Malaysia’s construction sector pins its hopes on the 12th Malaysia
Plan to revive infrastructure construction post COVID-19
Following growth of 4.8 and 4.3 per cent in 2018 and 2019, respectively, Malaysia’s economy is expected to have contracted by six per cent in 2020, according to the IMF. A recovery of 7.8 per cent in 2021 and six per cent the following year is predicted.
Malaysia has been hit hard by the COVID-19 pandemic and has introduced a number of strict lockdown measures since the first case was identified in February 2020. In the following month a nationwide Movement Control Order (MCO) was introduced bringing the country to a standstill, including construction sites and cement plants.
