Malaysian business community looks at the economic prospect under the epidemic situation: “bitter” this year, cautious and optimistic next year

The survey report was carried out from May to July this year, and a total of 828 responses were received, covering most of Malaysia’s economic sectors. Compared with the same survey conducted at the beginning of this year, it can be seen that the number of pessimistic evaluators of the economic situation in the first and second half of this year has increased significantly. Among them, those who hold a pessimistic assessment of the economic situation in the first half of 2020 rose from 37.4% to 68.4%; those with a pessimistic forecast for the second half of the year rose from 27.7% to 68.9%; more than 70% of the respondents who looked at the “bad” economic situation in 2020 increased by nearly 1.7 times compared with those who held the same view in the previous report. < p > < p > more than 78% of the respondents admitted that their business situation deteriorated in the first half of this year, and more than 87% of the respondents in tourism, shopping, restaurants, leisure and entertainment industries deteriorated in the first half of this year. 68.4% of the business operators think it will take at least 4 to 12 months for the business to recover. Looking forward to 2021, the number of enterprises still pessimistic about the economic situation will drop to 24.5%. 46.4% of respondents believe that Malaysia’s economy will start to recover in the first half of next year. However, considering the global economic situation, the uncertainty of vaccine research and development and the time needed for the Malaysian government’s economic revitalization measures to take effect, Malaysian enterprises are still cautious about the economic recovery.