MCO 3.0 to Have 1 Per Cent Impact on GDP - Tengku Zafrul

With the tightening of SOPs for movement control order 3.0 (MCO 3.0), it is estimated to have up to 1.0% impact on the (GDP) throughout the implementation period from May 12 to June 7 according to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

 

With tighter (SOPs) being enforced under the one-month MCO 3.0, he mentioned it could lower the GDP growth to about 5.0 to 6.5 per cent for 2021, slightly lower than the 6.0 to 7.5 per cent target forecast by Bank Negara Malaysia earlier.

 

“When we forecast the GDP target of 6.0 to 7.5 per cent for 2021, we did not expect another MCO to take place.

“So now that it has happened, it (the GDP) could be lowered to 5.0 to  6.5 per cent, but again, this is preliminary and we are watching this closely,” Tengku Zafrul.

 

In the first MCO which ran from March 18 to May 3, 2020, Malaysia lost about RM2.4 billion daily while during MCO 2.0 from Jan 13 to Feb 18, 2021, it was estimated to cost the country RM300 million to RM400 million a day.

 

“We are still studying the impact, although it is still too early to tell. We are estimating that during the whole period of MCO 3.0, the impact could be up to 1.0 %”

 

Read full article here: https://www.bernama.com/en/business/news.php?id=1964197 

 

#GDP #Malaysia #MCO3 #PKP #MCO #eurochammy 

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