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RULE: North Korea’s decision to sever diplomatic ties with Malaysia has not affected the country’s economy, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. (pix)
According to him, it is because the country’s contribution to the Malaysian economy is currently very small.
“I don’t think there will be any impact, because it was a small contribution,” he told reporters after attending a meeting with Perlis mango harumanis entrepreneurs here today.
He was asked to comment on whether North Korea’s action had an impact on the country’s economy.
Meanwhile, Tengku Zafrul reiterated the government’s stance not to introduce any form of new tax system at this time … instead, it will focus on economic recovery programs to generate revenue for the country.
He said that the government was in fact conducting a study of all forms of the tax system, but that it was only in the study stage with no plans to implement at this time.
“The government’s focus now is to reactivate the economy. In terms of revenue, it certainly suffers because our economy was affected due to Covid-19 last year.
“But this year, Insyallah, our gross domestic product (GDP) is projected between 6.5 and 7.5 percent, the economy will increase, income will also increase compared to last year,” he said.
Tengku Zafrul said the RM260 million special assistance allocation to all state governments announced today is expected to help speed up the country’s economic recovery process.
He said that through the allocation, each state will channel a total of RM20 million soon to implement small projects specifically for G1 to G4 class contractors.
“Because these small projects have a very high multiplier impact, they are very effective in stimulating the economy faster,” he said. -Called
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