Coronavirus: Malaysia eyes reopening economy around October; Delhi crowds spark concern as lockdowns ease
- After a strict five-week lockdown in Delhi, authorities have fully reopened shops and malls, and allowed restaurants 50 per cent seating
- Meanwhile, Malaysia will allow vaccines manufactured by China’s CanSino Biologics and US drug maker Johnson & Johnson to be used
The current phase of the national lockdown is costing the economy 1 billion ringgit (US$242 million) a day as most businesses remain shut, Muhyiddin said in a televised address on Tuesday. The government expects to begin easing the curbs in steps starting July, he said.
The second phase that is expected in July will begin once daily cases drop below 4,000 and 10 per cent of the population is fully vaccinated, he said, while outlining a recovery plan that contains four phases based on three indicators: average daily infections, ICU bed capacity and the percentage of the population that’s inoculated.
“If everything goes well, we should expect a more convincing recovery in the final quarter of this year,” said Mohd Afzanizam Abdul Rashid, chief economist for Bank Islam Malaysia Bhd. “It is about meeting the timeline and thresholds.”
The lockdown is already showing results, the prime minister said. The nation’s Covid-19 curve has begun flattening, and the health care system is able to handle new cases amid rising recovery rates.
Malaysia went into a lockdown June 1 after daily Covid cases crossed the 9,000 mark, placing the health care system under tremendous pressure. The curbs were extended Friday by two weeks to June 28. New cases stood at 5,419 on Tuesday.
There is “light at the end of the tunnel” as the pace of vaccination increases, he said.
