The Malaysian Government responded quickly to contain the overall spread of the virus through the implementation of Movement Control Order (MCO). However, the repercussion from the pandemic and local control measures have critically impacted multiple levels of businesses and livelihoods.
The World Bank cut Malaysia's GDP Growth to -0.1% for 2020, citing the growing uncertainty over the duration and overall impact COVID-19 outbreak. Malaysia together with other developing economies in the region face a further impact with the prospect of global financial shock and recession as the pandemic hits' major economies in the world.
Richard Record, the Lead Economist for Malaysia at the World Bank will share insights and recommendations from the Bank's latest report "East Asia and Pacific Economic Update April 2020" as well as discuss:
Lead Economist, Macroeconomics, Trade and Investment Global Practice at World Bank Group