MIER projects job losses could be 2.4 million


In a statement yesterday, MIER proposed that the government pledge an additional RM75bil to the crisis budget, which is comparable to the projected income loss of RM95bil.

PETALING JAYA: The economic impact of Covid-19 and the movement control order (MCO) is expected to shrink Malaysia’s real gross domestic product (GDP) growth to -2.9% for 2020, relative to 2019, says the Malaysian Institute of Economic Research (MIER).

In a statement yesterday, MIER proposed that the government pledge an additional RM75bil to the crisis budget, which is comparable to the projected income loss of RM95bil.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

CPO futures to trade on upside bias next week on expectation of weaker output
Oil gains over 2% but posts seventh weekly decline
In China’s slowing beauty market, big-brand discounts won’t cut it
YTL Power and Nvidia in AI collaboration
Westports inks deal with govt to expand terminals
Succession planning and moving in the right direction
Bank Pembangunan has plenty of potential
Setting the standards the Gamuda way
Singapore signs deal with Latin American bloc
Critical factors to consider before MLFF rollout

Others Also Read