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KUALA LUMPUR (May 6): The latest movement control order (MCO 3.0) imposed by the government will continue to have scarring effects on economic and business activities, according to Socio-Economic Research Centre (SERC) executive director Lee Heng Guie. Speaking at a webinar today, Lee said the research centre expects the growth of Malaysia’s gross domestic product (GDP) to be at 4% much lower than Bank Negara Malaysia’s (BNM) projection of 6% to 7.5% due to the slow pace of the vaccination programme and rising Covid-19 cases in the country.  “The MCO 3.0 covers several districts in Selangor, which accounts for about 21.9% of total national GDP (and Kuala Lumpur s is about 16.4%). Other states like Johor [where a few districts are affected] and Kelantan practically are all under the MCO.

Kuala lumpurLee heng guieEmployee provident fundEconomic research centreBank negara malaysiaSocio economic research centreLee hengகுவாலா லம்பூர்ஊழியர் வருங்கால நிதிபொருளாதார ஆராய்ச்சி மையம்வங்கி நெகாரா மலேசியாசமூக பொருளாதார ஆராய்ச்சி மையம்லீ ஹெங்