[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108995-en":3,"doc-seo-108995-105":29,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},108995,687197207919,"Theodora","https://ap-avatar.wpscdn.com/avatar/a000253d6f5f7c60be?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779446848396160552",8,"Research & Report","Malaysia Economic Monitor - Surviving the Storm - Abbreviated Report - Vol. 1 of 2","Malaysia’s economy has been severely affected by the COVID-19 pandemic, with 2020 growth projected to contract by 3.1%. The report outlines a slowdown to 0.7% in Q1, a sharp output contraction of around 10% in Q2 linked to movement control orders, and a partial recovery expected later in 2020 if global containment and policy support limit the depth of global activity losses. It highlights the need for enhanced social protection, fiscal reprioritization, and reforms for a post-COVID “new normal.”","A hut r l Disclosure Authorized  \nMALAYSIA Surviving the Storm ECONOMIC  \nMONITOR  \n JUNE 2020    \nsure Authorized Pub lic Disclosure  \nCONNECT WITH US  \n [wbg.org/Malaysia](wbg.org/Malaysia)[ ](wbg.org/Malaysia) @WorldBankMalaysia  \n @WB_AsiaPacific  [http://bit.ly/WB_blogsMY](http://bit.ly/WB_blogsMY)  \nTable of Contents  \nSummary  2  \nPART ONE  \nRecent economic developments  5  \nEconomic outlook  9  \nPART TWO  \nSurviving the storm  38  \nMALAYSIA ECONOMIC MONITOR | JUNE 2020 1  \nSummary  \nMalaysia’s economy has been severely affected by the COVID-19 pandemic  \nIn 2020, Malaysia’s economy is projected to contract by 3.1 percent. In Q1 2020, growth slowed to just 0.7 percent with efforts to flatten the curve of the pandemic through a series of movement control orders and with deep uncertainty regarding growth prospects severely constraining economic activity. A pronounced output contraction of around 10 percent in Q2 2020 is envisioned, reflecting the significant impact of the economic disruptions resulting from the MCO imposed during the quarter. This is expected to be followed by a partial recovery in the second half of the year, as the outbreak eases and mobility restrictions are gradually lifted. This forecast assumes that the spread of pandemic is broadly contained at the global level and that the massive fiscal and monetary policy support measures implemented by governments around the world limit the depth of contraction in global economic activity. With all these factors, the near-term outlook for Malaysia’s economy is unusually uncertain at present.  \nThe COVID-19 pandemic has resulted in an unprecedented crisis that requires large-scale and unconventional policy responses by governments everywhere. With the crisis severely affecting private  \ndemand and causing supply shocks, the government is tasked with the responsibility of facilitating economic recovery in the near term.  \nMalaysia’s economy remains resilient and rests on strong fundamentals. Its diversified economic structure, sound financial system, effective public health response and proactive macroeconomic policy support suggest that Malaysia will be able to ride out the storm better than many other countries.  \nThe crisis has demonstrated the importance of having an enhanced social protection system that provides minimum protection to all those in need  \n2 MALAYSIA ECONOMIC MONITOR | JUNE 2020  \nSummary  \nIn the near term, Malaysia’s fiscal strategy should be reprioritized to create additional policy space. This will require efforts to re-allocate expenditures towards priority areas, identify new sources of non-tax revenue, as well as legislative amendments to temporarily increase available fiscal space.  \nThe Prihatin stimulus package, and more recently the Penjana plan, have provided important support to households and firms affected by the crisis. However, efficiency could be improved, and the quantum of financial assistance provided may need to be increased to adequately protect the welfare of vulnerable households and to ensure the sustainability of affected firms.  \nOver the medium term, the government should establish policies to prepare Malaysia’s economy for a post-COVID-19 recovery in the context of ‘new normal’ conditions. While to some extent, the COVID-19 crisis has required the temporary suspension of Malaysia’s medium and long-term economic plans, it also createsan opportunity to accelerate necessary structural reforms . First, it will be necessary to rebuild fiscal buffers and to ensure spending efficiency; second, to re-invigorate foreign and domestic private investment; third, to upskill and redeploy human capital; and fourth, to accelerate the digitalization agenda.  \nThe Malaysia Economic Monitor (MEM) consists of two parts.  \nPart 1 presents a review of recent economic developments and a macroeconomic outlook. Part 2 focuses on a selected special topic that is key to Malaysia’s medium-term development prospects and to the achievement of ","cbCaifYrUALqyjXp","https://ap.wps.com/l/cbCaifYrUALqyjXp","pdf",2743230,1,56,"English","en",105,"# Summary\n## Recent economic developments\n## Economic outlook\n# Surviving the storm","[{\"question\":\"How is Malaysia’s 2020 economic performance expected to change according to the report?\",\"answer\":\"The report projects a 3.1% contraction in 2020, with growth slowing to 0.7% in Q1 and a pronounced output contraction of around 10% in Q2. 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A partial recovery is expected in the second half as mobility restrictions ease.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"What key factor is driving the report’s view of near-term economic uncertainty?",{"text":80,"@type":76},"Near-term conditions are described as unusually uncertain due to deep uncertainty around growth prospects, the disruptive impact of movement control orders, and reliance on global containment of the pandemic and the effectiveness of large fiscal and monetary support measures.",{"name":82,"@type":73,"acceptedAnswer":83},"What special topic does this edition focus on?",{"text":84,"@type":76},"This edition focuses on Malaysia’s social protection system—how it can be improved and leveraged to better meet the population’s needs amid rapid economic change from COVID-19 and shifts in the world of work driven by digitalization and automation.","https://schema.org",{"og:url":51,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,128,131,135],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":46,"doc_module":4,"doc_module_name":45,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":45,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":45,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":45,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":45,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":45,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":45,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":45,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":45,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":45,"category_name":137,"show_sort_weight":106,"slug":138},19,"General","general"]