MalayMail-Jan 13

Malaysia’s economic recovery will be severely hurt by the government’s move to enforce a second movement control order (MCO) as key industries were still reeling from the first lockdown that ended just six months ago, Moody’s Analytics warned. Growth of South-east Asia’s third largest economy contracted 17 per cent in the second quarter of 2020 as the MCO that spanned from March to May put businesses and trade to a near-total halt. “Another MCO-level lockdown would dent the Malaysian economy significantly,” Denise Cheok, economist at the Moody’s unit that oversees Malaysia, told Malay Mail. The Malaysian economy is highly export-dependent and about a third of government revenue was derived from petroleum products.

Read more at: https://www.malaymail.com/news/malaysia/2021/01/13/second-mco-will-derail-malaysias-2021-recovery-but-emergency-wont-weigh-fur/1939892