Mier, in its third-quarter outlook report on the Malaysian economy published today, projected an annual gross domestic product contraction of -5.5 per cent for the year 2020. — Picture by Hari Anggara
Mier also predicted negative effects for the already reeling local economy, if a recent attempt by Prime Minister Tan Sri Muhyiddin Yassin to declare a state of emergency had been successful. The report then warned that its GDP projection for this year still remains subject to the level of compliance to ongoing pandemic measures and how fast the infection can be contained, which are the main factors hindering economic growth.
The report noted that despite recording a contraction of 17.1 per cent in the second quarter of 2020, the worst performance since 1998, it projects the economy to record growth of 2.0 to 2.5 per cent in the third quarter thanks to the government’s Prihatin and Penjana stimulus packages. “As the flattening of the pandemic had taken six months in the first wave, we expect the flattening of this third wave to take at least the same amount of time and will delay the recovery to the first quarter of 2021,” it noted.
Unemployment rates in the third quarter went up, said Mier, with 40 per cent of respondents admitting to downsizing, compared to the 6 per cent of respondents who released employees in the second quarter.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tok Mat: King, Malay Rulers made best decision for MalaysiaSEREMBAN: The Yang di-Pertuan Agong and the Malay rulers made the 'best decision for Malaysia' by deciding against proclaiming a state of emergency, says Datuk Seri Mohamad Hasan. Crawling out from the putrid sewage, here comes the carriers Balls carriers Tok Mat please standup and be the person you are your achievement in Negeri Sembilan speaks for itself just don't be a follower of a pack leader whose days are numbered for UMNO to be relevant it needs new leaders to transform When will all politicians make the right decision?
Source: staronline - 🏆 4. / 75 Read more »
Anwar: Agong’s historic no-emergency decision in line with Constitution’s spirit, understands Malaysians’ worries | Malay MailKUALA LUMPUR, Oct 25 — The Yang di-Pertuan Agong’s decision today to not declare a state of emergency in Malaysia is a historic and wise decision that has further strengthened the country’s democratic system, Opposition Leader and PKR president Datuk Seri Anwar Ibrahim said today. Anwar, who... anwaribrahim Ni ke PM gile babi anwaribrahim tambah Baginda : kerajaan berjaya menangani covid19 dgn baik menitahkan semua ahli politik menyokong meluluskan belanjawan SPB percaya keupayaan kerajaan dibawah kepimpinan TSMY ahli2 politik hentikan segera politiking ahli2 parlimen jgn gugat kestabilan anwaribrahim Kau pun pnh catat sejarah. Satu2nya MP yg jmp Agong bwk tangan kosong. Lpstu siap kena sound ngn Agong dalam surat. Tumpu je lah parti kau yg tgh pch belah tu.
Source: malaymail - 🏆 1. / 86 Read more »
Agong’s no-emergency decision confirms Muhyiddin’s shaky position as PM, says Kadir Jasin | Malay MailKUALA LUMPUR, Oct 26 — The Yang di-Pertuan Agong’s decision to reject Tan Sri Muhyiddin Yassin’s request for a proclamation of emergency has solidified views that the latter’s position as prime minister was temporary, former newsman Datuk A. Kadir Jasin said today. Kadir said that it would...
Source: malaymail - 🏆 1. / 86 Read more »
DAP’s Guan Eng hails Agong’s decision against emergency, urges Malaysians to heed King’s call for unity | Malay MailKUALA LUMPUR, Oct 25 — DAP secretary-general Lim Guan Eng today said the Yang di-Pertuan Agong’s decision to not enforce a state of emergency on Malaysia was the right choice. In a brief Facebook post tonight, Lim who is also Bagan MP, also urged Malaysians to be united in the fight against... Unity? Stability? Is DAP moving away from Anwar? 😁 guanenglim engkau sekejap sokong, sekejap maki. Dasar politician, snakes with two heads. The backside govt just uses the aging to give warning on politicking to stay in power. The emergency is a ploy which either way benefits this backside govt. People has again been fooled by this backside govt. They must be voted out, not elected by the people.
Source: malaymail - 🏆 1. / 86 Read more »
Agong’s decision saves economy from further battering, say experts | The Malaysian InsightConsent for an emergency declaration would have meant reversal of progress in Bumi equity, they say.
Source: msianinsight - 🏆 8. / 63 Read more »
Agong says no need for a state of emergency | Malay MailKUALA LUMPUR, Oct 25 — The Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah has decided that there is no need to enforce a state of emergency following a plea by Prime Minister Tan Sri Muhyiddin Yassin for the King to consider implementing one. A statement by the... Daulat tuanku. That was not the intend, either way to use the Agong to quell the rising opposition of the backside govt. Again royal fell in the trap and people suffered again. Restore democracy. Daulat Tuanku.
Source: malaymail - 🏆 1. / 86 Read more »