PETALING JAYA: Malaysia will head into a full lockdown starting tomorrow for at least two weeks, with its effects seen as acute on employment and business activity in the weeks ahead.
The government has said that a fresh stimulus package for households and industries is forthcoming but experts debate on whether it would have a significant effect of mitigating the impact of a full lockdown on the economy.
During the first movement control order (MCO) that began in March 2020, the Malaysian economy lost about RM2.4bil on average a day.
About 2.8 million high-risk informal workers lost their jobs while the economy plunged by 17.2% year-on-year (y-o-y) in the second quarter (Q2) of 2020. The first MCO lasted for 47 days or nearly 7 weeks.
Malaysia is going into a full lockdown starting tomorrow, June 1, to curb an alarming spike in coronavirus infections – a move that will have an adverse effect on many businesses and industries. The automotive […]