Basic needs: Lower consumer spending will have a direct impact on the overall economy, since private-sector consumption makes up just over half of the economy last year.
PETALING JAYA: Malaysians will not be harbouring any illusions about 2016 as factors that had impacted the economy this year will continue to plague it in the upcoming year.
Top on the list would be the high cost of living and the impact from the goods and services tax (GST), which was implemented from April.
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