Low growth could leave labour force in tatters, warns economist

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Economist Paolo Casadio believes there could be permanent damage to Malaysia’s growth rate and competitiveness. (Bernama pic)PETALING JAYA: The Covid-19 pandemic and the resultant restrictions have wreaked havoc on Malaysia’s economy, creating a slew of immediate problems such as high unemployment, depleted savings, some Malaysians driven to raising a white flag to ask for help to feed their families, and a bevy of others.On top of this, if policymakers are unable to devise a comprehensive economic recovery plan that does not rely on lockdowns, economist Paolo Casadio believes the long-term scars could be far deeper than the wound itself.In the third part of FMT’s series on economic recovery, we cover the deeper impacts the pandemic could have, and the consequences involved if action isn’t taken to avoid them.Low growth looms large Paolo Casadio.In the long term, the HELP unive…