Haze threatens RM1b monthly hit to Malaysia’s economy
HAZE could cost Malaysia up to RM1 billion in gross domestic product (GDP) every month, as reduced outdoor activity and weaker consumer sentiment threaten to hit spending and business activity, according to MARC Ratings chief economist Dr Ray Choy. C...
A haze episode could inflict up to RM1 billion in monthly economic damage for Malaysia, according to MARC Ratings chief economist Dr Ray Choy. The haze's consequences, which transcend public health, stem from diminished outdoor activities and dwindling consumer confidence, potentially dampening spending and business operations, he said.
The possible monthly GDP loss of RM1 billion serves as a stark reminder of how recurring haze can impede economic growth, as decreased outdoor pursuits and more circumspect consumer behavior affect industries reliant on mobility and discretionary spending. Choy emphasized the need for continued collaboration among Asian nations to effectively manage cross-border haze, citing Malaysia's commitment to working with Singapore, especially given Singapore's upcoming ASEAN chairmanship in 2027. By mitigating haze-related economic losses, Malaysia could bolster its GDP growth, Choy added.
Written by urgent.news from The Vibes's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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