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The prime minister announced the movement control order from March 18-31 to curb the spread of...

The prime minister announced the movement control order from March 18-31 to curb the spread of the coronavirus. Discuss how the restaurant business in Malaysia is affected and what are measures taken by the operators. (200-300 words)

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Expert Solution

Negative effects

Coronavirus has had huge impact on economic growth due to lockdown and shutdowns and social welfare losses.

The economic growth remains subdued as Aggregate demand and consumption both fall simultaneously also leading to fall in prices and inflation.

Investment is pumped out due to falling interest rate regime and lower economic outlook of companies.

Government spending is ramped up due to an expansionary fiscal policy by reducing taxes and spending. Also net exports go negative as imports surge due to supply shocks.

Negative growth in GDP causes high unemployment ajd lower inflation based on Philips curve movement.

Actions undertaken.

Restaurant owners shall thus adopt online model of delivery by collaboration with delivery aggregates like Zomato and local delivery logistics partners to cut fixed costs and make losses albeit limited to maintain steady cash flows and pay for rents and employment.

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Rahul Sunny answered 8 months ago
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