Malaysia's economy contracted 5.6% in 2020 due to pandemic

Politics Economy

Malaysia's economy contracted 5.6 percent in 2020, hit by the tough containment measures globally and domestically to control the coronavirus pandemic, the government said Thursday. The partial lockdown measures that started in March last year to curb the outbreak of the coronavirus "led the Malaysian economy to record negative growth for the three consecutive quarters for year 2020," the Statistics Department said in a statement. Malaysia's gross domestic product contracted 3.4 percent in the fourth quarter of 2020, following negative growth of 2.6 percent in the third quarter and a 17.1 perc...

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