KUALA LUMPUR: Economists remain positive on Malaysia’s growth this year on the back of vaccine rollouts and gradual economic reopening globally despite concerns that the early part of the year may be impacted by the current movement control order .
“The MCO 2.0 enforcement may have less severe negative impact on the economy, compared to the experience last year, as businesses are generally allowed to operate. Moreover, the Permai assistance package will also help to cushion some of the impacts from tighter movement control, ” said MIDF in a note yesterday.
“However, the economic performance in the first quarter of 2021 will be adjusted lower, taking into account the MCO currently in place and renewed restrictions in key countries due to surging Covid-19 cases. Meanwhile, Malaysia’s trade continued to improve. In January this year, Malaysia’s exports rose 6.6% y-o-y, supported by an 11.7% y-o-y rise in the manufacturing segment, offsetting declines in agriculture and mining exports . However, CGS-CIMB noted that import growth remained subdued at 1.3% y-o-y as domestic demand was inhibited by MCO 2.0.
“We reiterate our gross export and import growth forecasts in 2021 at 10.9% and 11.5% y-o-y, respectively, as the gradual rollout of vaccinations globally are likely to reinforce economic recovery trends, ” said CGS-CIMB.
Our vaccine roll out is a joke. Better let private doctors and hospitals to come out and help. Can you get your reporters to ask DG Health at his daily briefings to saw how people were vaccinated in the last 24 hours. Or has the media been silenced here?
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