ECONOMIC OUTLOOK 2021

The Covid-19 pandemic which first hit Malaysia in February 2020 and worsened later in October had aggravated the economy causing the livelihoods of many Malaysians. Due to the lockdown implementation, the government’s gross domestic product (GDP) plunged to -17.1% in 2Q2020. However, the GDP showed an improvement in the 3Q2020 with a -2.7% rate after the government decided to reopen the economy after the Movement Control Order (MCO).