Mustapa: Malaysia to revisit 12MP in light of Covid-19, weak oil prices
Friday, 24 Apr 2020 06:03 PM MYT
Minister in the Prime Minister’s Department Datuk Seri Mustapa Mohamed said planning for the 12MP was done when the economy was okay in 2019 and therefore there was a need to realign although work on the five-year plan, which covers the period from 2021 to 2025, had almost been completed. “When it comes to planning, some of the numbers that we crunched earlier are no longer relevant and now we are going back to the drawing board in terms of forecast of economic growth, in terms of allocations—of course, it would be affected—and other implications on the country’s economy,” he added.
However, he said, Malaysia was able to weather the storm as the government had been very much focused in combating the Covid-19 pandemic with the support from the private sector and government-linked companies. “This is unprecedented. Various organisations have done surveys and shared the findings with us and all those indicated that micro-enterprises and others have been badly affected. Even retailers have been telling us that their businesses have been badly affected,” he added.
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