Insight - Reopening the economy in the New Normal

Smita Kuriakose(pic) is senior economist at the World Bank.

AFTER 47 days of the movement control order (MCO), most businesses have been allowed to resume operations on May 4. As Malaysia’s economy wakes up from the necessary shutdown, which has been effective in arresting the spread of the Covid-19 pandemic, the days ahead will look very different. The economy reopens to a new normal.

We enter with a grim picture at the beginning, facing an expected economic loss of RM 63bil from the MCO, as announced by the Prime Minister. Many people would have lost their jobs.