Page 5 - ECO116 Presentation

 The Malaysian institute of economic research, in a press statement dated 24 march 2020, predicted

that Malaysia's real GDP growth in 2020 would decline from 4.0% to -2.9%, thus causing up to 2.4

million job losses, of which 67% comprised the category unskilled workers.

 Bank negara Malaysia is of the view that Malaysia's GDP growth will be between -2.0% to 0.5% in

2020, because:

 loss of revenue due to COVID-19 contaminants;

 Implementation of movement control orders (“MCOS”); and

 Disruption of supply of commodities within and outside the country

 Various key sectors of Malaysia are currently suffering because of COVID-19, among the affected

sectors are

 Manufacturing sector

 Tourism sector