Malaysia’s Finance Minister Hopeful of 2021 Economic Recovery following Improvement in Unemployment

With the unemployment rate declining 0.4% in June 2020, to 4.9%, from a record-high of 5.3% in May 2020, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, expressed optimism over Malaysia’s economic rebound in 2021.

For June 2020, the Finance Minister compared Malaysia’s unemployment numbers against those of the Philippines (17.7%), India (11%), the United States of America (11.1%), and China (5.7%), adding that most European nations had recorded unemployment rates in the double-digits. With Malaysia’s unemployment rate declining in June 2020, Tengku Zafrul noted that unemployment remained under control for Malaysia.

Tengku Zafrul stated that Malaysia&r...