Reviving SMEs key to post pandemic recovery

Economist Mnokarn Mottain says: In a nutshell, saving SMEs during this pandemic crisis is a top priority. The sector plays a vital role in driving the overall economy in the short and long term. If Malaysian SMEs fail to rebound, Malaysia’s economic growth may deteriorate even further. Unemployment rate could easily soar to double digits, which we have only seen during previous economic crises.

THE economy is experiencing a setback due to the Covid-19 pandemic as a result of an abrupt disruption in consumer spending and global supply chain.

There is no doubt that small and medium enterprises (SMEs) have been hit largely due to cash flow issues and lack of financial strength.