Former finance minister Lim Guan Eng says unemployment is expected to get worse.
The unemployment rate had risen from 3.2% in January to 5% in April, the highest in decades, and would rise further “as more companies are still in the process of retiring their employees”, he said. Malaysians would thus be able to better plan their finances. An extension would ease personal hardships. “It does no one any good to push fellow Malaysians and local businesses into bankruptcy” which would only worsen the recession.
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