KUALA LUMPUR: Putrajaya is estimating a drop in the country’s gross domestic product (GDP) of between 0.8% and 1.2% following the Covid-19 pandemic, a decline of between RM10.8 bil and RM17.3 bil, the prime minister said today.
Tan Sri Muhyiddin Yassin, in a special address to the nation on the outbreak, also said the tourism sector incurred a loss of RM3.37 bil in just two months, January and February.
Muhyiddin said he was aware that measures needed to be taken to cushion the impact for the outbreak on Malaysia’s economy.
“The government will ensure that the stimulus package announced earlier would be implemented so the benefits could be felt immediately,” he said.
He said a special task force led by the health ministry had been formed to ensure Putrajaya was prepared for any eventuality, and that he had been briefed daily on the latest developments.
“I have also been assured that the supply of necessities is sufficient,” he said, acknowledging that the worst-hit sectors were tourism, small-medium enterprises and transportation.
Muhyiddin also said travel bans on the Hubei, Jiangsu and Zhejiang regions in China were still in place, as well as Hokkaido in Japan, Italy, Iran and South Korea.
He said cruise ships would only be allowed to dock in the country to replenish supplies, and only Malaysian crew members were allowed to depart the ships, and they were required to go through health screenings. – March 13, 2020
