Malaysia’s economy shrinks by 17.1 per cent in Q2, worst slump since Asian financial crisis

Hit hard by the impact of the coronavirus pandemic and three-month lockdown, the Malaysian economy contracted by 17.1 per cent in its second quarter on a year on year basis, as the central bank cut its gross domestic product forecast for the year.This second quarter performance is the weakest since the last quarter of 1998, during the peak of the Asian financial crisis.After Covid-19 numbers skyrocketed in March, the Malaysian government announced a national movement control order that saw…

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