Muhyiddin: Collective action of international community key to recovery from Covid-19 | Malay Mail

Saturday, 26 Sep 2020 11:55 PM MYT

“The economic and financial impact of the pandemic has brought big and small corporations to their knees. We have witnessed how decades of hard work and dedication have been reduced to bankruptcy or even the downsizing of companies on an unimaginable scale.”“This is precisely the reason why the economic devastation of this magnitude needs the collective action of the international community.

“For Malaysia, the Government has put in place mitigating strategies to address the socio-economic impacts of Covid-19 has had on the country. We hope Malaysia not only recovers but also emerges stronger from the pandemic.” “We have begun the implementation of economic recovery strategies, followed by an all-inclusive economic revitalisation programme. Even though it will take some time before we see the results, we will continue to try our level best to return to some semblance of normalcy. And we know we can only do better with the help of the international community,” he stressed.

Bank Negara Malaysia has revised its 2020 GDP forecast to -5.5 to -3.5 per cent from -2 to 0.5 per cent previously, as the initial assumption was based on a lockdown period of only four weeks instead of seven weeks.

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