Bank says MCO 3.0 to cost economy RM300 million daily

The third movement-control order could see a daily hit of RM300 million to the economy, especially from restrictions on the contact-sensitive services sector, says Public Investment Bank Bhd. – The Malaysian Insight file pic, May 11, 2021.

THE nationwide imposition of the third movement-control order (MCO 3.0) from May 12 to June 7 is expected to cost the country’s economy RM300 million every day.

Public Investment Bank Bhd (PIVB) said MCO 1.0 (March 18 to May 3, 2020) was estimated to have cost the economy RM2 billion per day, while MCO 2.0 (Jan 13 to 26, 2021) cost RM300 million per day.

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