Malaysia Economic Monitor, June 2021 : Weathering the Surge
In recent months, there has been a steep increase in the number of daily new cases and, more disturbingly, in the number of deaths. While it took almost one year for Malaysia to record its first 100,000 cases, the increase in the number of new case...
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/en/261321624390274148/Malaysia-Economic-Monitor-Weathering-the-Surge http://hdl.handle.net/10986/35812 |
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okr-10986-358122021-06-23T05:11:20Z Malaysia Economic Monitor, June 2021 : Weathering the Surge World Bank ECONOMIC GROWTH ECONOMIC RECOVERY EXPORTS UNEMPLOYMENT CORONAVIRUS COVID-19 COVID-19 VACCINATION GOVERNMENT SUPPORT FISCAL TRENDS PANDEMIC RESPONSE ECONOMIC OUTLOOK PRIVATE SECTOR DEVELOPMENT PRODUCTIVITY SERVICES SECTOR COMPETITION In recent months, there has been a steep increase in the number of daily new cases and, more disturbingly, in the number of deaths. While it took almost one year for Malaysia to record its first 100,000 cases, the increase in the number of new cases between April to May 2021 alone amounted to more than 100,000. Similarly, while it took about one year for cumulative deaths to reach 500, the cumulative number of deaths in the first two weeks of June alone was more than 500. Even more worryingly, the number of brought-in dead (BID) cases also rose sharply; in May 2021, BID cases accounted for nearly one-third of total deaths. The severity of the current wave has raised concerns regarding the overall capacity of the health system. With the number of new cases and death rates continuing to climb at a rapid rate, the health system has been operating at close to its maximum capacity, with most intensive care units (ICUs) running at nearly 100 percent capacity. At the same time, key containment measures, including mass testing and contact tracing, have not been fully or effectively implemented. In addition, the rollout of the country’s vaccination program is being affected by delayed vaccine supply and high vaccine hesitancy, although there are some signs that the pace has picked up recently. To curb the spread of the pandemic and to ease the burden on the health system, the government has reimposed the movement control order (MCO). Initially, the terms of the MCO allowed for most economic sectors to continue to operate. However, with the number of cases remaining high and with no signs of abatement, the government subsequently announced a full lockdown, with only key essential services allowed to operate. The Ministry of Health has indicated that it may take between 3-4 months to flatten the curve of the pandemic. 2021-06-22T21:06:34Z 2021-06-22T21:06:34Z 2021-06-22 Report http://documents.worldbank.org/curated/en/261321624390274148/Malaysia-Economic-Monitor-Weathering-the-Surge http://hdl.handle.net/10986/35812 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Malaysia |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH ECONOMIC RECOVERY EXPORTS UNEMPLOYMENT CORONAVIRUS COVID-19 COVID-19 VACCINATION GOVERNMENT SUPPORT FISCAL TRENDS PANDEMIC RESPONSE ECONOMIC OUTLOOK PRIVATE SECTOR DEVELOPMENT PRODUCTIVITY SERVICES SECTOR COMPETITION |
| spellingShingle |
ECONOMIC GROWTH ECONOMIC RECOVERY EXPORTS UNEMPLOYMENT CORONAVIRUS COVID-19 COVID-19 VACCINATION GOVERNMENT SUPPORT FISCAL TRENDS PANDEMIC RESPONSE ECONOMIC OUTLOOK PRIVATE SECTOR DEVELOPMENT PRODUCTIVITY SERVICES SECTOR COMPETITION World Bank Malaysia Economic Monitor, June 2021 : Weathering the Surge |
| geographic_facet |
East Asia and Pacific Malaysia |
| description |
In recent months, there has been a steep
increase in the number of daily new cases and, more
disturbingly, in the number of deaths. While it took almost
one year for Malaysia to record its first 100,000 cases, the
increase in the number of new cases between April to May
2021 alone amounted to more than 100,000. Similarly, while
it took about one year for cumulative deaths to reach 500,
the cumulative number of deaths in the first two weeks of
June alone was more than 500. Even more worryingly, the
number of brought-in dead (BID) cases also rose sharply; in
May 2021, BID cases accounted for nearly one-third of total
deaths. The severity of the current wave has raised concerns
regarding the overall capacity of the health system. With
the number of new cases and death rates continuing to climb
at a rapid rate, the health system has been operating at
close to its maximum capacity, with most intensive care
units (ICUs) running at nearly 100 percent capacity. At the
same time, key containment measures, including mass testing
and contact tracing, have not been fully or effectively
implemented. In addition, the rollout of the country’s
vaccination program is being affected by delayed vaccine
supply and high vaccine hesitancy, although there are some
signs that the pace has picked up recently. To curb the
spread of the pandemic and to ease the burden on the health
system, the government has reimposed the movement control
order (MCO). Initially, the terms of the MCO allowed for
most economic sectors to continue to operate. However, with
the number of cases remaining high and with no signs of
abatement, the government subsequently announced a full
lockdown, with only key essential services allowed to
operate. The Ministry of Health has indicated that it may
take between 3-4 months to flatten the curve of the pandemic. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Malaysia Economic Monitor, June 2021 : Weathering the Surge |
| title_short |
Malaysia Economic Monitor, June 2021 : Weathering the Surge |
| title_full |
Malaysia Economic Monitor, June 2021 : Weathering the Surge |
| title_fullStr |
Malaysia Economic Monitor, June 2021 : Weathering the Surge |
| title_full_unstemmed |
Malaysia Economic Monitor, June 2021 : Weathering the Surge |
| title_sort |
malaysia economic monitor, june 2021 : weathering the surge |
| publisher |
World Bank, Washington, DC |
| publishDate |
2021 |
| url |
http://documents.worldbank.org/curated/en/261321624390274148/Malaysia-Economic-Monitor-Weathering-the-Surge http://hdl.handle.net/10986/35812 |
| _version_ |
1764483826979962880 |