BERA – The government will focus on several sectors badly affected by the Covid-19 pandemic, including tourism, retail, and small and medium enterprises (SMEs), in Budget 2022 to be tabled later this month, said Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.
He said the government is optimistic that the country’s economy will recover next year in line with the positive growth projections made by the International Monetary Fund (IMF) and World Bank for 2022.
Tengku Zafrul said this can be achieved through the government’s high commitment to revive all pandemic-affected sectors.
However, he said, the recovery period may differ depending on the economic sector.
“In the budget, we will give attention and assistance to all sectors including the most badly affected sectors, which are tourism, retail, and SMEs.
"This year, Malaysia’s gross domestic product is expected to grow between 3% and 4%, while the IMF and World Bank are forecasting a 5-6% growth for 2022. This shows that our economy will recover next year,” he told reporters after a working visit to the Orang Asli settlement in Kg Limbahan/Jeti Sudin near Tasik Bera today.
Also present were Deputy Finance Minister I Mohd Shahar Abdullah and Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail.
Tengku Zafrul added that the country’s latest economic growth forecast would be announced during the tabling of Budget 2022 on October 29. – Bernama, October 2, 2021
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