KUALA LUMPUR – The 12th Malaysian Plan (2021-2025) will provide a blueprint for sustainable growth, aimed at strengthening socio-economic inclusively and better environmental sustainability, according to Finance Minister Tengku Zafrul Tengku Abdul Aziz.
He said in a statement today that the government is committed to effective policy execution, exemplified in no small part by the 2021 Budget – which, at RM322.5 billion, was the country’s largest ever.
Tengku Zafrul said that the initiatives under the annual financial statement for this year would be further boosted by the recently announced RM15 billion Malaysian Economic and Rakyat’s Protection Assistance Package (Permai).
He also said that Permai is aimed at bridging the gap between deploying immediate support to those affected by floods and the reintroduction of restrictions on movement due to the Covid-19 spike in the country.
Moving forward, he said, Malaysia’s economic recovery will be driven by the efficacy of its public healthcare system, which the finance minister said has been further reinforced through Permai.
Tengku Zafrul said that economic recovery will also be driven by the country’s Covid-19 national vaccination programme, which is set to begin in early March over a period of 12 to 18 months and aims to inoculate 27 million living in Malaysia by the first quarter of 2022.
He added that improving external demand from major trading partners, along with a diversified economy and existing infrastructure projects, will further support economic growth and resiliency. Tengku Zafrul said these have enabled Malaysia’s average real gross domestic product growth to rank amongst the top 20% globally between 2015 and 2019.
He said that digitalisation, along with tax and investment incentives, is also set to sustain Malaysia’s attractiveness to investors. – Bernama, January 28, 2021
