Report: Daim Zainuddin says finance minister’s prediction of Malaysia’s economic recovery in 2021 ‘premature’
Daim called the aftermath of the Covid-19 pandemic as unlike any other in living memory. — Bernama pic
“It is very premature to claim that we will get out of the woods soon. The contraction of the economy will push back our progress by at least a couple of years. On June 2, it was reported that Tengku Zafrul said that some 10.25 million people or close to 70 per cent of the workforce had returned to work as of May 17, up from 6.64 million people or 43.6 per cent a week earlier.
The MTUC and employers associations have predicted that up to two million people could lose their jobs in the impending recession later this year. “It is also magnified by the US-China trade tensions. At the moment I don’t see an end in sight. That, essentially, is what we are facing now,” Daim said.
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