Fitch unit: Covid-19 to hit Malaysia’s middle class hard, but not for long
Wednesday, 22 Jul 2020 09:37 AM MYTFitch Solutions projected that the Malaysian economy would expand by 5.7 per cent in 2021 and that job losses arising from the MCO would be erased by 2022. — Picture by Hari Anggara
Pointing to its previous prediction of a 2.8-per cent contraction of the economy from 2019 and an expected spike in unemployment, Fitch Solutions also projected average disposable income for Malaysian households to shrink by 8 per cent, from RM102,460 last year to RM94,053 in 2020. While the months-long restriction has been effective in containing the rate of infection, it came at a brutal cost to Malaysian workers and the local economy, which is set to contract for the first time since the 1997 Asian Financial Crisis.
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.
19 active Covid-19 clusters | New Straits TimesNSTnation With a new cluster reported in Sarawak today, Malaysia now has 19 active Covid19 clusters, said Health director-general Datuk Dr Noor Hisham Abdullah.
Read more »
Shah Alam council to paint over defaced ‘Covid-19 heroes’ mural | Malay MailKUALA LUMPUR, July 20 — The Shah Alam City Council (MBSA) said today it has taken steps to paint over the defaced murals of Malaysian political leaders dubbed “Covid-19 heroes” in Taman Cahaya Alam, Seksyen U12. MBSA said it takes the vandalism seriously, and expressed regret that the mural...
Read more »
Longest-staying Covid-19 patient celebrates birthdayChoy Wai Chee has been in a life-and-death fight against Covid-19 for the past four months. She pulled through and marked her 58th birthday yesterday! HappyBirthday
Read more »
HK banks shut branches again after record Covid-19 casesThe Asian financial hub recorded more than 100 infections in a day over the weekend. FMTNews HongKong Bank
Read more »
Covid-19: Presiden Mexico berkabung, 38,888 mautmexico Presiden Manuel Lopez Obrador, berikrar akan memperbaiki tahap kesihatan negara itu, yang mencatat 38,888 kematian Covid-19, keempat tertinggi di dunia, semalam.
Read more »