KUALA LUMPUR, April 30 – The post-Goods and Services Tax (GST) impact will be among the issues to be discussed during the monetary policy committee meeting next week, said Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz.
She said the meeting will discuss the risk to the country’s growth, consumption spending, investment activity and inflation. “This (the GST impact) is still being monitored. We are in an environment where we have lower oil prices that is offsetting (the impact),” she told reporters after presenting Kijang Emas Scholarships to recipients in Kuala Lumpur, Thursday.
Zeti was asked if there had been early signs of prices of goods increasing faster than expected after the GST implementation coupled with rising costs globally. The governor explained that it usually takes between a year or two before a new tax system sets in and stabilises, and some countries have managed to do it a little faster, while others have taken a longer time.