Categories: EconomyMalaysia

Containing Covid-19 should remain the top priority for Malaysia, the World Bank says

KUALA LUMPUR: The control of the Covid-19 pandemic and the security of the most vulnerable in society, while Malaysia is on the road to economic recovery, must remain the country’s top priorities in the near term.

Senior economist Shakira Teh Sharifuddin of the World Bank Group said Malaysia is expected to rise by 6.7 percent in 2021, which could be due to a recovery from a low base in 2020, continued export improvements, and a steady build-up of private consumption and investment momentum.

The most critical thing, however, is to curb the pandemic and defend vulnerable households in the short term.

“Fiscal policy should refocus in the long term on rebuilding buffers to counter future shocks and on sustaining public funding,” she said today on Bernama TV’s Mid-day Update.

Shakira commented on the recently published World Bank Malaysia Economic Monitor: Sowing the Seeds report, which highlighted the importance of controlling the pandemic in order to ensure a healthy resumption of economic activity and to avoid a more prolonged downturn.

This will include, according to the study, targeted restrictions on movement in high-risk areas, large-scale monitoring and contact tracing to reduce the spread of the virus, in addition to additional budget allocations in the healthcare sector to meet the increased needs of domestic health and emergency services and to promote the timely and equal delivery of vaccines for Covid-19 when they become vaccines.

The report focuses on the ability of the agriculture segment to improve Malaysia’s economic status.

“In particular, agri-food is a timely issue, given that there was a lot of concern about food security at the beginning of the pandemic when the movement control order was in effect. “

“Furthermore, the data reveals that the bulk of the B40 income community is active in the agricultural sector.”

“It will therefore have a positive spillover impact on Malaysia as a whole by resolving problems and developing this business,” she added

Katherine S

1/4 German, 3/4 Malaysian. I write, follow and monitor closely political news happening in Malaysia, and other happening news in the ASEAN region. Newswriter for the best ASEAN news website - The Asian Affairs.

Recent Posts

V Surprises ARMY with Two Holiday Releases: A Festive Collab with Park Hyo-shin and “White Christmas” Cover

For K-pop fans, the Christmas season this year has become even more magical as several of their preferred stars reveal…

November 22, 2024

Celine Names TWS as Global Ambassadors Following Suzy Bae Announcement

After Suzy Bae's nomination as Celine's worldwide ambassador, the venerable French luxury fashion company has taken another bold step choosing…

November 22, 2024

Reddit Faces Widespread Outage, Users Turn to Workarounds Amid ‘Server Error’ Messages

Thousands of users of the well-known social network Reddit were left without access after a major outage of the website.…

November 22, 2024

Anne Hathaway Casted as ‘Verity’ in Colleen Hoover’s Book Adaptation

Anne Hathaway is slated to play the much expected film version of Colleen Hoover's best-selling book Verity in front of…

November 21, 2024

Gucci Set to Revolutionize Fashion Presentations with Unified Shows in 2025 under Sabato De Sarno’s Vision

Gucci is ready to change its presentation approach for 2025 in a radical action aimed to revolutionize the fashion industry.…

November 21, 2024

South Korea’s “Korea Discount”: Addressing the Governance Gap to Boost Market Value

As world investors wait for significant changes that might solve long-standing problems of governance and responsibility in South Korea's companies,…

November 21, 2024

This website uses cookies.

Read More