Finance minister: Govt to launch short-term economic recovery plan
Wednesday, 13 May 2020 08:43 PM MYT
The plan will highlight health guidelines and safe operating procedures in the new norm, capacity building, hiring of workers, job creation as well as boosting consumer spending, especially through digital channels. “While the Malaysian economy is expected to record slower growth this year, economic growth for 2021, on the other hand, is projected to be better based on future global and domestic economic recovery measures,” he said.
In terms of demand, economic growth was supported by government and household spending, while in terms of supply, GDP growth was driven by the services and manufacturing sectors. “Malaysia has not been exempted from the impact from the global situation, and economic recovery efforts will take some time.
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