Compared to RM2.4bil a day during the first MCO.
PETALING JAYA: The reopening of more economic sectors under the second phase of the movement control order (MCO 2.0) has succeeded in reducing the country’s losses to RM300mil a day compared to RM2.4bil a day during the MCO 1.0 .
“During the first MCO, our country suffered a loss of RM2.4bil a day and if it is implemented continuously, surely our country’s economic system, including the public health system, will paralyse, ” he said in his opening remarks at the virtual 25th Revenue Day of the Inland Revenue Board (IRB) yesterday.
He also said that the country has managed to limit the number of deaths due to Covid-19 to a 0.3% ratio, or in the lowest 5.0% category globally.He said the effectiveness of the government’s measures to curb the spread of the Covid-19 pandemic had also been recognised by the international credit rating agency, Moody’s, which maintained Malaysia’s A3 rating with stable projections in January this year.
“Moody’s also expects the Covid-19 pandemic not to have a long-lasting effect on the country’s economic structure.“Therefore, the current and subsequent waves of contagion will only delay but not hinder the country’s economic recovery towards a higher and sustainable growth path, ” he said. headtopics.com
Tengku Zafrul said the success of this rating was driven by a strong economic foundation, good fiscal discipline including the support of economic sector diversification.However, he said, it depended heavily on the country’s ability to curb the pandemic and also implement continuous recovery in external demand.
Although Malaysia experienced a contraction in the gross domestic product (GDP) of 5.6% in 2020, Tengku Zafrul said this figure was better than the initial projections by international organisations such as the International Monetary Fund (-5.8%), the World Bank (-5.8%) and the Asian Development Bank (-6.0%).
He also said Malaysia’s performance was better compared to regional peers such as Thailand (-6.1%) and the Philippines (-9.5%) and other countries such as the United Kingdom (-9.9%). ─ Bernama Read more: The Star »
Court of Appeal told Najib 'turned blind eye' to millions of ringgit deposited in account
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Lift interstate ban as soon as possible to avoid more loses to the industries. Sorry...to avoid more loses to government actually. You can travel to overseas for months but you punish people by not allowing them travel interstate. What the £π©|. Open the borders to ppl who are vaccinated!!! Memang kerja Menteri Kewangan ni kira rugi je ke canne?