Due to the movement control order to minimise the spread of the Covid-19, the fallout has also been felt in the overall economy. The Malaysian economy is expected to see a contraction of -2% at its worst and growth of 0.5% at its best in 2020, compared with 4.3% in 2019.
AGAINST a highly challenging global economic outlook, a global recession looks imminent. The Malaysian economy is expected to see a contraction of -2% at its worst and growth of 0.5% at its best in 2020, compared with 4.3% in 2019.
Meanwhile, the International Monetary Fund (IMF) anticipates the world will ‘very likely’ experience one of the worst recessions since the Great Depression in the 1930s. A partial recovery can be expected in 2021, but subject to an improvement in the Covid-19 health crisis.
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