KUALA LUMPUR – The country’s economic recovery is set to be U-shaped rather than V-shaped due to the resurgence of Covid-19 in Malaysia, said International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.
He told Bloomberg TV that the impetus is on trying to contain the virus without further hurting businesses, despite the current conditional movement control order (CMCO) in place in most states.
“More can be done to flatten the curve of the pandemic,” he was quoted as saying.
He said he hopes for better prospects if the country is able to contain the virus.
Since September, Malaysia has been in the grip of a third wave of Covid-19 infections, with daily cases regularly hitting four digits.
It was reported that renewed restrictions could threaten economic recovery, just as it was showing signs of improvement in the third quarter.
Meanwhile, it has been reported that the Dewan Rakyat vote on Budget 2021 next Thursday.
The Perikatan Nasional (PN) ruling coalition has a razor-thin, two-seat majority in the Dewan Rakyat.
Azmin told Bloomberg TV that Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz has taken all views into consideration concerning the nation's finances.
He said the government’s track record in the last eight months is cause for confidence to PN that it can secure a bigger majority in future polls, including a general election.
Azmin added that the government should have held snap polls months ago, given that it came to power via the collapse of the previous Pakatan Harapan administration.
“We must go to the people to get their mandate for a stronger government. Only with a strong and stable government can we focus on economic recovery and support,” he told Bloomberg TV.
“However, the virus situation doesn’t warrant holding any election for now.”
On the ailing Malaysia Airlines, Azmin was quoted as saying that the government expects to produce a recovery plan for the national carrier by next year. – The Vibes, November 20, 2020
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