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In addition, the Malaysian economy contracted 5.6% for all of 2020, its worst performance since the 1998 Asian Financial Crisis. [ 6 ] The travel, hospitality and entertainment sectors were particularly hit hard by the COVID-19 pandemic but the ecommerce, technology and healthcare sectors thrived despite facing supply chain disruptions.
From 3 May 2021, the Malaysian Government reimposed a two-week Movement Control Order in Johor, Kuala Lumpur, Penang, Sarawak, and Selangor in response to a spike in COVID-19 cases. Schools were closed and social and religious activities were banned. While some economic activities were allowed, eateries can only provide takeaway services. [115]
The COVID-19 pandemic in Malaysia has had significant impacts on the country's healthcare system, economy, and daily life.
Medical tourism is a significant sector of Malaysia's economy, with around 850,000 individuals travelling to Malaysia specifically for medical treatments alone in 2022, contributing RM1.3 billion (US$295 million) in revenue to the economy. [145]
The goal of the NEM, according to Najib, is to "transform the Malaysian economy to become one with high incomes and quality growth" by 2020. [ 1 ] [ 2 ] At the time of the plan's unveiling in 2010, per capita annual income in Malaysia stood at 23,100 Malaysian ringgit , approximately $7,000 in US currency ; under the plan that figure would more ...
The federal budget is a major state financial plan for the fiscal year, which has the force of law after its approval by the Malaysian parliament and signed into law by the Yang di-Pertuan Agong. Revenue estimates detailed in the budget are raised through the Malaysian taxation system , with government spending representing a sizeable ...
A woman from India disappeared in Malaysia’s capital Friday when pavement collapsed beneath her and she fell into a sinkhole where she may have been swept away by an underground water current ...
"Terima Kasih Frontliners" (literally means "Thank You Frontliners") mural at Pendang, Kedah. The Government of Malaysia along with various non governmental organisations (NGOs), companies, and foreign governments introduced various financial aid and relief programs in response to the economic impacts of the COVID-19 pandemic in Malaysia.