The Fitch solutions country risk and industry research has warned Malaysia that because of the surge in its cases that the health care system may not be able to holdup any longer. They also stated that the Movement control order is very likely to be extended in this state as the country pandemic situation spins dangerously out of control.
What was seen as shocking was when the case numbers went up in a matter of 72 hours where it went up from 2,3019 to a little over 5000 in a few days, “Malaysia’s daily case load has averaged about 2,319 since the beginning of the year and set a new record of 3,027 on January 8 2021.”
The report further went to read that “The surge in number of Covid-19 patients will paralyses the existing capacity of the healthcare system.” It also showed that by having these control of movement and curfew it was not only the health industry in Malaysia taking a hit but also the economy as people cannot go into work.
“We have revised down our forecast to 10.0 per cent, from 11.5 per cent previously to account for the slower recovery due to muted private consumption as employment and wages are likely to once again come under intense pressure, this time with even less scope for fiscal support, given that government finances are already strained and close to the raised debt limit of 60 per cent of GDP. A decline in GDP growth will further negatively impact the number of funds available needed to strengthen Malaysia’s healthcare system”
