Floods reduce economic sector production by RM4bil-RM8bil

KUALA LUMPUR: The Finance Ministry (MoF) said the Northeast Monsoon 2021/2022 flood disaster that hit the country in December last year has caused an estimated RM4 billion-RM8 billion reduction in the economic sector’s production value.

Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said although the disaster had a major impact on economic activities, particularly in the affected areas, the country's gross domestic product (GDP) growth forecast remained between three per cent and four per cent for the whole of 2021.