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KUALA LUMPUR: Various measures to accelerate the country’s economic recovery and maintain the well-being of the population will be introduced in the 2021 Budget that will be presented on November 6, said the Prime Minister’s Department (Economy) Minister Datuk Seri Mustapa Mohamed.
“The government through the secretariat of the Economic Action Council (EAC) is finalizing the preparation of a long-term economic recovery plan,” Dewan Rakyat told here today.
He was responding to Datuk Mohd Fasiah Mohd Fakeh (BERSATU-Sabak Bernam) who had asked him about the economic impact of the Covid-19 pandemic on people, households and businesses, as well as about the government’s policies, mechanisms and steps to boost the economy.
The minister also said that the 12th Malaysia Plan (12MP), 2021-2025 will be announced in early 2021.
“Insyaallah, with the measures that have been and will be taken through the 2021 Budget, the 12MP and the relevant policies, the country’s economy will recover. Our economy will be competitive and sustainable to guarantee the well-being and well-being of people ”, he said.
Mustapa noted that the pandemic had greatly affected individuals, households and businesses, as well as all sectors of the economy, and that the scale was beyond expectations with economies in countries around the world facing a contraction. substantial.
According to the International Monetary Fund (IMF), world economic growth will contract by 4.4 percent, the worst since World War II.
In this regard, Mustapa said, Malaysia was no exception with its gross domestic product (GDP) contracting by 8.3 percent in the first half of this year.
“The government had established the EAC to address the prevailing economic problems and challenges, which is chaired by the prime minister, and monitors the impact of Covid-19 on the economy and develops measures to reactivate and revitalize the country’s economy.
“Since its creation, 24 meetings have been held and 48 documents have been presented. These include measures to rehabilitate affected economic sectors such as tourism, construction, retail trade, and small and medium-sized enterprises, measures to improve people’s well-being, and reduction of the unemployment rate.
“Everyone, regardless of party, let’s revive the country’s economy together and protect the interests of the people,” he said. – Called
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