KUALA LUMPUR (Bernama): Despite the numerous challenges brought by the Covid-19 pandemic, Malaysia is riding out the severe economic downturn comparatively better than many economies, says the World Bank.
Country director for Brunei, Malaysia, the Philippines, Thailand, East Asia and Pacific, Ndiamé Diop said Malaysia’s economy rests on strong fundamentals.
3.1% and a particularly pronounced contraction in the second quarter, there is light at the end of the tunnel, ” he said."The impact from the pandemic is expected to lead to the first increase in global extreme poverty since 1998, effectively wiping out the progress made since 2017, ” he said. Diop said while significant policy support has been put in place, the government might need to do more to protect those who need it most, especially vulnerable households and businesses.
He said the crisis underscored the need for Malaysia to put in place a stronger social protection system that is more cost-effective and less fragmented to improve individuals’ and households’ welfare, both during the recovery period and in the future.
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.
World Bank: Malaysia riding out Covid-19 storm comparatively better | Malay MailKUALA LUMPUR, July 19 — Despite the numerous challenges brought by the Covid-19 pandemic, Malaysia is riding out the severe economic downturn comparatively better than many economies, said the World Bank. Country director for Brunei, Malaysia, the Philippines, Thailand, East Asia...
Read more »
Dr Noor Hisham: Malaysia records 18 new Covid-19 cases, eight local transmissions | Malay MailKUALA LUMPUR, July 17 — Malaysia today has recorded 18 new Covid-19 positive cases. This brings the total accumulative positive cases to 8,755. Health director-general Datuk Dr Noor Hisham Abdullah said the 18 cases involved 10 import cases while the remaining eight cases are local transmissions....
Read more »
Dr Noor Hisham: Four new Covid-19 clusters detected in Malaysia today | Malay MailKUALA LUMPUR, July 17 — Four new Covid-19 clusters have been identified today, the Health Ministry said. In a statement today, Health director-general Datuk Dr Noor Hisham Abdullah said the four new clusters — which involve both Malaysian and non-Malaysian citizens — are the Pitakwa persons...
Read more »
Covid-19: 47 rakyat Malaysia selamat pulang dari Arab Saudi | The Malaysian InsightKos pembiayaan tiket ditanggung sendiri sepenuhnya oleh penumpang.
Read more »
96 rakyat Malaysia pulang dari India tiada gejala Covid-19, kata Noor HishamSaringan kesihatan akan dibuat 2 kali sehari bagi memastikan mereka benar-benar sihat dan boleh dibenarkan pulang. FMTNews Covid19 KLIA
Read more »
Covid-19: Two clusters end today in Malaysia, says Dr Noor Hisham | Malay MailKUALA LUMPUR, July 18 — Two Covid-19 clusters — the Kuala Selangor senior citizen cluster and Labu Lanjut cluster, Sepang — have officially ended today after the 28 days of monitoring and surveillance have been completed. Health director-general Datuk Dr Noor Hisham Abdullah on his Facebook...
Read more »