PROPERTY prices are expected to drop as the country braces for recession and consumers tighten their spending over worries of possible job losses.
Malaysia’s GDP is expected to shrink 2% this year as it tries to contain the coronavirus pandemic, which has already crippled many sectors of the economy.
Bank Negara Malaysia (BNM) has projected the global economy will register a negative growth as the world battles to prevent the plague that has killed more than 54,000 people in the last four months. The country’s one-month Movement Control Order (MCO) has already slowed economic activities, especially in non-essential sectors.
Media Title: The Malaysian Reserve
Date: 09 Apr 2020