Police, army and Rela personnel manning a roadblock along the Tun Dr Lim Chong Eu Expressway during the movement control order (MCO2.0) in George Town, Penang. ( February 1, 2021 ). - CHAN BOON KAI/The Star
KUALA LUMPUR: Malaysia’s economy is estimated to have contracted by 2.8% in 4Q 2020, amid the restrictions imposed under the conditional movement control order (CMCO), according to RAM Ratings.
It said on Tuesday, this will be the third consecutive quarter of contraction in 2020, leading to a 5.4% contraction for the year, compared with the previous estimate of -5.3%.
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