Recession looming despite lifting of MCO, warn economists
A store worker cleaning the frontage of a fashion outlet in Bukit Bintang on the first day of conditional movement-control order on Monday. Certain sectors of the economy are allowed to operate on condition they monitor crowds and impose higher hygiene standards. – The Malaysian Insight pic by Hasnoor Hussain, May 7, 2020.
WHETHER the conditional movement-control order to reopen most sectors is lifted “too soon” or the right measure to kickstart the economy crushed by Covid-19, a recession is looming, said economists. Sunway Business School professor of economics Dr Yeah Kim Leng said the downturn is imminent due to the prolonged shutdown of economic activities and ensuing plunge in demand in most countries in response to the pandemic.
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