EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Thursday, May 26, 2022
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription
Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Wider vaccination and herd immunity are vital to the domestic recovery

by moneycompass
May 21, 2021
in Local Market News
vaccination

Credit: Pexels.com

Share on FacebookShare on WhatsApp

KUALA LUMPUR – A stronger push towards wider vaccination and herd immunity will be key to the domestic recovery and should facilitate an economic rebound as emergence of new COVID-19 variant poses high risk, Moody’s Analytics’ economist Sonia Zhu said.

Malaysia’s economy contracted by 0.5% year-on-year in the March quarter, following a 3.4% slump in the fourth quarter of 2020.

“Despite a gradual easing of gross domestic product (GDP) contractions, conditions will likely stay weak in the coming quarter due to the latest movement control order (MCO),” she said in a statement on May 14.

Prolonged lockdowns will be a tricky situation to manage especially for daily-wage earners, small businesses and families financially battered with each MCO.

A more infectious COVID-19 variant forced Malaysia to declare a nationwide MCO from May 12 to June 7, 2021 to curb the surge in new daily cases of the virus.

Malaysia logged its highest death toll of 59 on May 20, since the pandemic started as the public health system reaches its capacity limits.

Besides Malaysia, neighbouring Southeast Asian countries such as Singapore and Indonesia also are facing a surge in COVID-19 infections.

The MCO comes at an inconvenient time just days before the end of Ramadan, which is the Malaysian Muslim community’s biggest annual celebration.

“Social events, indoor dining, and travel are prohibited during the MCO, hurting service industries such as food, retail and hospitality. Household spending will dwindle during a time when it is normally expected to peak.”

“Hence, a stronger push towards wider vaccination is key, she said, adding that at present, only 3.4% of Malaysia’s total population has received at least one dose of a vaccine.

The slow vaccination rate casts doubt on the ability to reach the herd immunity target by the end of 2021, tilting the balance of risks to the downside for the subsequent quarter, opined Zhu.

 

Read more: MCO 3.0: Clarity Amidst the Confusion Over the SOPs

Tags: Covid-19EconomyMCO
ShareSendShareSendTweetShare
Previous Post

FMBA: Government and financial institutions must implement an urgent rescue stimulus package

Next Post

Policy-driven agenda crucial for nation’s energy future KL Mayor’s bold move compels 30% Renewable Energy for future projects

Related Posts

Semiconductor and electronics expected to see lower costs and supply chain resiliency in the long term, Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai said.
Local Market News

Semiconductor industry to gain long term through MOC signing and IPEF

26 May 2022
Malaysia's Islamic banking sector on path to lead regional growth, says S&P Global Ratings.
Local Market News

Malaysia’s Islamic banks to lead sector’s growth in SEA

26 May 2022
The high commodity prices experienced globally will be a benefit to Malaysia, analysts at Moody's Analytics stated.
Local Market News

High commodity prices beneficial to Malaysia, economist say

25 May 2022

Discussion about this post

MOST POPULAR

  • My Ofis: The First Online Grocery Shopping Experience via TV Series

    0 shares
    Share 0 Tweet 0
  • AMAZFIT LAUNCHES THE T-REX 2: A NEW RUGGED OUTDOOR GPS SMARTWATCH BUILT TO BRAVE THE OUTDOORS

    0 shares
    Share 0 Tweet 0
  • Enabling Cloud Connectivity to All MCUs and MPUs, Microchip Launches a Range of Embedded IoT Solutions for Rapid Prototyping

    0 shares
    Share 0 Tweet 0
  • Annature outperforms forecasts with 500% growth, adds ID Verification to its eSigning platform to accelerate future success

    0 shares
    Share 0 Tweet 0
  • Top 100 SMEs Defy Economic Headwinds to Post Triple-Digit Growth

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER