Prof. Yeah Kim Leng said as the pandemic shows no sign of abating, it would be difficult for the world’s economy to normalise in one year once COVID is contained.
Prof. Yeah Kim Leng expected a bigger and more comprehensive stimulus package to mitigate the economic impact of the extended MCO and to alleviate economic hardship.
Prof. Yeah Kim Leng opined that a sharper economic decline is expected as consumption and production activities have been affected by the movement restrictions.
Prof. Yeah Kim Leng said the nation’s production capacity would be reduced as assets are sold off and workers could be laid off or have their salaries cut.
Prof. Yeah Kim Leng said crude oil price outlook is conditional on the willingness of the oil-exporting countries to agree on production cuts and ensure an orderly supply.
Prof. Yeah Kim Leng said fund managers should adopt an ‘averaging down’ investment strategy to reduce losses, and position strategically for a market recovery.