KUALA LUMPUR, Aug 3 — Malaysia has emerged as a country with notable resilience and potential for recovery amid the challenges brought about by the Covid-19 pandemic, said the...
KUALA LUMPUR, Aug 3 — Malaysia has emerged as a country with notable resilience and potential for recovery amid the challenges brought about by the Covid-19 pandemic, said the World Bank.
The six experienced the crisis differently and implemented various measures to contain the spread of the virus and to mitigate economic impacts with varying degrees of success, the bank noted. “Within Malaysia, smaller companies and poorer, more vulnerable households suffered and they have less access to government assistance as well. The problem is digital divide, for example,” Matsuda noted.
“Governments should prioritise equitable recovery, leverage technological advancements, and strengthen social safety nets to protect vulnerable groups. She noted that compared with other countries in the region, Malaysia relied more heavily on support to firms in the form of liquidity, credit, and lending — “below-the-line” measures — and relatively low on direct support to households.
Moving forward, she said given the tightening fiscal space and continued distress, better targeting and consolidation of support instruments is needed.
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