Providing for an ageing population

THE changing world of work caused by the Covid-19 pandemic has highlighted the need for Malaysia to enhance its social protection policies.

“Surviving the Storm”, the latest edition of the World Bank’s Malaysia Economic Monitor published on Thursday, projects that Malaysia’s economy will contract by 3.1% this year due to a sharp slowdown in economic activity caused by measures introduced to contain the spread of the virus. However, growth is expected to resume in 2021 at 6.9%, although the report recognises that the near-term outlook is unusually uncertain at present.