Malaysia on track for economic recovery with rollout of vaccination programme -- Tengku Zafrul

He said many economic sectors were awaiting border reopening not only in the country but also abroad, including the tourism and retail sectors.

In presenting the 42nd Implementation and Coordination Unit Between National Agencies (LAKSANA) report here today, Tengku Zafrul urged the small and medium enterprises (SMEs) and micro SMEs in the tourism sector which were still affected by the pandemic to take advantage of the RM1 billion PENJANA Tourism Financing.

As of Feb 12, only 282 applications involving RM57.1 million in financing had been approved under the PENJANA Tourism Financing scheme.

Tengku Zafrul said economic recovery would follow with the recovery in public health.

He said the World Bank had forecast that Malaysia's economy would grow between 5.6 and 6.7 per cent for 2021 following the global rollout of the COVID-19 vaccination programme, which was in line with the forecast of a four per cent world economic growth.

The government is targeting to vaccinate almost 27 million people, representing over 80 per cent of the country's population, by the first quarter of next year to achieve herd immunity.