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COVID-19 Economic Impact in Malaysia

This document is a report submitted by 4 students - Wan Muhammad Hariz bin Wan Azizi, Naizatul Shima binti Hassan, Muhamad Salahuddin Bin Ishak, and Muhammad Noor Imran Bin Mohd Norsham - to their lecturer Dr Farah Adilla Binti AB Rahman. It discusses the economic impact of COVID-19 in Malaysia and actions taken by the Malaysian government. Graphs from the Department of Statistics show GDP declining from RM344.1 billion in 2019 to RM289.4 billion in 2020, with the annual percentage change falling from 0.7% to -17.1%. The government implemented movement restrictions and economic aid packages to

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308 views7 pages

COVID-19 Economic Impact in Malaysia

This document is a report submitted by 4 students - Wan Muhammad Hariz bin Wan Azizi, Naizatul Shima binti Hassan, Muhamad Salahuddin Bin Ishak, and Muhammad Noor Imran Bin Mohd Norsham - to their lecturer Dr Farah Adilla Binti AB Rahman. It discusses the economic impact of COVID-19 in Malaysia and actions taken by the Malaysian government. Graphs from the Department of Statistics show GDP declining from RM344.1 billion in 2019 to RM289.4 billion in 2020, with the annual percentage change falling from 0.7% to -17.1%. The government implemented movement restrictions and economic aid packages to

Uploaded by

ummi sabrina
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
  • Cover Page: Displays the university name, course code, report title, submission date, group members, and lecturer information.
  • Introduction & Graph: Introduces the impact of COVID-19 on Malaysia's economy with supporting graphs illustrating GDP value and changes.
  • Table of Content: Lists the sections within the report including their starting pages.
  • Financial Scheme by Government: Discusses the government's financial measures to mitigate the economic impact of COVID-19, supported by statistical analysis.
  • Government Action To Save Economics During COVID-19: Details government interventions aimed at economic recovery during the COVID-19 crisis, providing insights on policy decisions.
  • Conclusion: Summarizes the findings and implications of government policies on the economic challenges posed by COVID-19.
  • Reference: Lists the sources and references utilized throughout the report.

ADS514

(PUBLIC POLICY)

REPORT
ASSINGMENT
SUBMISSION DATE : 28TH January 2021
GROUP MEMBERS :

1. Wan Muhammad Hariz bin Wan Azizi (2020394115)


2. Naizatul Shima binti Hassan (201788580)
3. Muhamad Salahuddin Bin Ishak (2019893234)
4.Muhammad Noor Imran Bin Mohd Norsham (2019619804)

LECTURER : Dr Farah Adilla Binti AB Rahman


TABLE OF CONTENT

N CONTENTS
O
1 Cover Page
2 Table of Content
3 Introduction & Graph
4 Financial Scheme by Government
5 Government Action To Save Economics During COVID-19
6 Conclusion
7 Reference
INTRODUCTION

The COVID-19 pandemic has grown into an unparalleled health, socio-economic and
humanitarian crisis of size and effect. The situation in Malaysia is exacerbated by the fact that the
government came to power only at the beginning of March 2020 and is already facing a big debt
crisis, financial constraints, a collapse in oil prices and the knock-on impact of the global shutdown
on trade and tourism.

On the pandemic front, for its actions in testing, contact tracing, quarantine and care, the
Government has gained international recognition, while keeping first responders secure and
supplying the public with credible information and advice. Regular updated reports on infection
numbers and rates, casualties and recoveries and 'hot spot' track progress in 'flattening the curve'
detection.

The Government placed a Movement Control Order (MCO) beginning on 18 March and extended to
12 May 2020 to break transmission by restricting movement and communication. The MCO enforced
stay-at-home orders, prohibited outdoor activities, including interstate travel, and shut down all
businesses, with the exception of a few specified critical services and sectors of natural resources.

Under a Conditional Movement Control Order (CMCO), a decision to substantially loosen the
regulations by 4 May 2020 sparked fears that this could lead to another increase in infections. The
CMCO was extended to 9 June, allowing for almost all economic operations and public movements,
but under strict Standard Operating Procedures for health and safety (SOPs).

The lockdown is turning into an economic knockout on the economic front. Rising negative impacts
on jobs, wages and 2 livelihoods, disrupting supply chains and upstream industries, and exacerbating
inequality, poverty and difficulties, particularly among the most vulnerable, are slowing the
economy.

Chart 1 show that the GDP Value Added in (RM Billion) and Annual Percentage Change (%). This
Graph is from Department of Statistic, Malaysia. This Graph show the statistic from 2017-2020.
GDP VALUE ADDED (RM BILLION)
350 344.1
340
330
320
310
300
289.4
290
280
270
260
2019.202

In the first graph above, show that in 2020, the annual percentage at constant prices fell to
-17.1 percent, which is 0.7 percent in 2019, from the previous year. The COVID-19 outbreak has
changed the economic landscape in terms of output levels, consumer spending, investment and the
labour market.

Next, the correct chart in the previous gross domestic product (GDP) slide reveals that the
sum falls to 289.4 trillion in 2020, compared to RM 344.1 trillion in 2019. So, What we can see
Covid-19 outbreak has change our economy to the worst situation. This also will make our country
live in pressure because of the financial dispute among us. The Government have take an action on
this problem.
In the first graph above, show that in 2020, the annual percentage at constant prices fell to
-17.1 percent, which is 0.7 percent in 2019, from the previous year. The COVID-19 outbreak has
changed the economic landscape in terms of output levels, consumer spending, investment and the
labour market.

Next, the correct chart in the previous gross domestic product (GDP) slide reveals that the
sum falls to 289.4 trillion in 2020, compared to RM 344.1 trillion in 2019. So, What we can see
Covid-19 outbreak has change our economy to the worst situation. This also will make our country
live in pressure because of the financial dispute among us. The Government have take an action on
this problem.

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