Businesses in Malaysia are recovering after witnessing one of the biggest floods following heavy rainfall from December 17-24. Preliminary estimates showed that the businesses have incurred losses to the tune of $4.77 billion due to the floods.
The floods claimed 48 lives and more than 71,000 people were left displaced while the whereabouts of five more persons is not known. The floods also disrupted activities in Klang Port, the biggest seaport in Peninsular Malaysia. However, port operations resumed in a limited manner a few days later.
Post-flood conditions and Omicron will become major challenges for the economic growth of Malaysia in 2022. Malaysia's economic growth in 2022 is projected to be gloomy and recovery may be derailed despite a positive outlook in October 2021.
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