Weathering the Covid-19 storm

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BEING among the first nations in South-East Asia to close its borders and put in place a movement control order to curb the spread of Covid-19, Malaysia has made a recovery to record the strongest gross domestic product (GDP) result among neighbouring countries.The impact of the pandemic on the global economy, coupled with Malaysia’s MCO, has battered the country’s GDP in the second quarter to -17.1%. It was among the lowest in the region but the early adoption of preventive measures has allowed Malaysia to bounce back with a significant jump to a contraction of only 2.7% in the third quarter, placing it ahead of Singapore at -7%, Indonesia at -3.5% and the Philippines at -11.5%. Speaking in a special interview session yesterday, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pic) shared the government’s plans and aspirations through Budget 2021.The initiatives ar…