In conjunction with Merdeka Day 2020, we asked Malaysians how affected they are by the pandemic and what keeps them going to survive financially in this new normal. Find out their thoughts and hopes for our country below.
The recent COVID-19 pandemic has affected our economy and the livelihood of many Malaysians. With Malaysia's 63rd year of independence fast approaching, we couldn’t help but wonder just how Malaysians are coping with the economic disruption caused by the pandemic.
To find out, we decided to roam the streets to get a better overall consensus:
All in all, we found out that the majority of Malaysians were affected by the COVID19 pandemic in one way or another, either through pay cuts, being laid-off, or not receiving enough customers for their business. Official statistics reveal that there were 826,100 unemployed in May, an increase of 6% from 778,800 in April.
And though the economy has shown some stability in recent months, it will take some time before the country’s economy fully recovers.
In the meantime, though things may look bleak in the months to come, we urge all Malaysians to remain steadfast and to persevere through the financial storm.
More than ever, Malaysians should learn to be financially savvy by keeping enough savings and spending within your means, among other things.
Malaysians, we are with you throughout this journey! Happy National Day, Malaysia!
If you’re curious about more financial tips, check out some of our articles.