![\"capacity\"](\"https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali.jpg\")
<\/p>\nPUTRAJAYA, April 16\u00a0 – The Malaysian\u00a0economy is estimated to operate at 45 per cent of its\u00a0operating capacity due to the closure of non-essential services for four weeks during the implementation of the Movement Control Order (MCO) until April 14, 2020, said the Ministry of International Trade and Industry (MITI).<\/p>\n
Its Senior Minister Datuk Seri Mohamed\u00a0Azmin Ali said Bank Negara Malaysia (BNM) projected the country’s economy to grow at between -2.0 per cent and 0.5 per cent in 2020, and the projection took into account the four-week MCO implementation until April 14, 2020.<\/p>\n
\u201c(Hence), the decision to allow more businesses to gradually resume their operations during MCO Phase\u00a03 (MCO3) would increase the operating capacity of the economy,\u201d he said at a press\u00a0conference here, today.<\/p>\n
<\/p>\n
According to him, MITI had received 18,650 applications to operate from additional economic sectors for MCO3 on the first day that the ministry’s application system started operations on April 13, 2020.<\/p>\n<\/div>\n
\u201cThis is a huge number if we compare with the applications we received for Phase 1 and 2, whereby we processed 12,360 applications within six days,\u201d he said.<\/p>\n
Mohamed Azmin also said that the industries and companies that were given approvals during MCO Phase 1 and 2 did not need to get approvals to operate during MCO3<\/a>.<\/p>\n The International Monetary Fund (IMF) has projected Malaysia\u2019s real gross domestic product (GDP) to grow at a rate of\u00a0nine per cent next year, the fastest among the ASEAN-5 nations which are expected to see a combined\u00a0GDP growth of\u00a07.8 per cent.<\/p>\n Besides Malaysia, ASEAN-5 includes Indonesia, Thailand, the Philippines and Vietnam which are\u00a0set to expand by\u00a08.2 per cent, 6.1 per cent, 7.6 per cent and seven\u00a0per cent, respectively.<\/p>\n For 2020, the Washington-based organisation forecast Malaysia\u2019s economy to contract 1.7 per cent, as the ASEAN-5 GDP shrinks 0.6 per cent.<\/p>\n<\/div>\n The IMF\u2019s latest 2021 projection for Malaysia is higher than Fitch Ratings\u2019 growth forecast of 5.8 per cent.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n – NMT<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" PUTRAJAYA, April 16\u00a0 – The Malaysian\u00a0economy is estimated to operate at 45 per cent of…<\/p>\n","protected":false},"author":1,"featured_media":3263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7574],"tags":[790,7902,7901,8128,7682,8129,4970,7266],"class_list":["post-3262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-covid19","tag-azmin-ali","tag-imf","tag-international-monetary-fund","tag-malaysian-economy","tag-mco","tag-ministry-of-international-trade-and-industry","tag-miti","tag-movement-control-order"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali.jpg",1415,797,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali-150x150.jpg",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali-300x169.jpg",300,169,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali-768x433.jpg",640,361,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali-1024x577.jpg",640,361,true],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali.jpg",1415,797,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali.jpg",1415,797,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali.jpg",1280,721,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali.jpg",1024,577,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/azmin-ali.jpg",720,406,false]},"author_info":{"info":["Editor"]},"category_info":"COVID19<\/a>","tag_info":"COVID19","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3262"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3262\/revisions"}],"predecessor-version":[{"id":3264,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3262\/revisions\/3264"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/3263"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}IMF forecasted Malaysian GDP to grow 9% in 2021<\/strong><\/h5>\n
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