Small and Medium Enterprises Association national secretary Yeoh Seng Hooi.
WITH unending lockdowns amid surging Covid-19 infections, the pace of vaccinations needs to be speeded up and the spread of Covid-19 better controlled.
Dynamic measures are required to avoid further dampening growth and exacerbating the uneven recovery between advanced and emerging economies.
This is not just a problem in Malaysia but a big part of what ails emerging economies which used to stage stronger recovery.
Unlike the vaccination programmes in developed economies, the lack of access to vaccines has left emerging economies struggling with second or third wave of infections, including those from new variants of Covid-19.
GDP chts
PETALING JAYA: Green shoots have been increasingly visible in the Malaysian economy, especially in the first three months of the year, led by a recovery in optimism and demand.
While the economy is not out of the woods yet, macroeconomic data have indicated that the country is continuously moving away from the “painful effects” of Covid-19 in 2020.
The Consumer Sentiment Index, published by the Malaysian Institute of Economic Research (MIER), has increased by 13.7 points to 98.9 points in the first quarter of 2021 (Q1’21) – its highest reading since Q3’18.
The Business Confidence Index, which slipped by 3.6 points to 111.8 points in Q1’21, remained well above the optimism threshold of 100 points for two consecutive quarters.
06 May 2021 / 23:06 H.
PETALING JAYA: The movement control order 3.0 (MCO 3.0) will drive scarring effects on consumer sentiment into the current quarter (Q2’21) while the slow rate of Covid-19 vaccinations puts economic recovery at risk, according to the Socio-Economic Research Centre (SERC).
Executive director Lee Heng Guie (
pix) said the worst is over (in terms of the economy) in Malaysia. However, the nation continues to see uneven growth in economic sectors and vaccination is the key to economic recovery.
“The ongoing national immunisation programme holds the key to economic recovery and to lift consumer sentiment. Up to now, only 1.9% of Malaysians have completed two doses of the vaccination. Although the number of vaccinations administered daily has started to pick up, the slow rate puts economic recovery at risk,” he said at the SERC Quarterly Economy Tracker (January-March 2021) virtual media briefing today.
KUALA LUMPUR (May 6): The latest movement control order (MCO 3.0) imposed by the government will continue to have scarring effects on economic and business activities, according to Socio-Economic Research Centre (SERC) executive director Lee Heng Guie.
Speaking at a webinar today, Lee said the research centre expects the growth of Malaysia’s gross domestic product (GDP) to be at 4% much lower than Bank Negara Malaysia’s (BNM) projection of 6% to 7.5% due to the slow pace of the vaccination programme and rising Covid-19 cases in the country.
“The MCO 3.0 covers several districts in Selangor, which accounts for about 21.9% of total national GDP (and Kuala Lumpur s is about 16.4%). Other states like Johor [where a few districts are affected] and Kelantan practically are all under the MCO.