MoF to formulate economic recovery plan post COVID-19 - Tengku Zafrul

The Ministry of Finance (MoF), together with the Economic Planning Unit (EPU) of the Prime Minister’s Department, has started engaging stakeholders from various industries to get their feedback on efforts to restore and develop the economy, its minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.

He said this emanated from Prime Minister Tan Sri Muhyiddin Yassin’s announcement that the government would formulate a comprehensive short, medium and long-term economic recovery plan to revive the economic activities quickly once the Movement Control Order (MCO) period has ended.

“This economic recovery and development strategy will be tabled to the Economic Action Council and Cabinet for deliberation in the near future.

“In the near term, the MoF is focusing on short and medium-term efforts that needed to be taken during the MCO and post MCO to ensure the country’s economic sustainability and the well-being of the people,” he said in a statement today.

Tengku Zafrul said the government is formulating a long-term strategy that would encompass measures to safeguard the country’s economic, nature and social thrusts with digital technology playing an important role in ensuring the country’s sustainability and competitiveness in the future.

Among its objectives are to build business and individual capabilities, instill confidence among consumers and empower a more positive investment environment for the future.

He said the proposed economic recovery plan would link and complement the various economic stimulus packages announced by the government earlier to protect the people, support businesses and strengthen the economy post COVID-19.

The MoF is aware of the new norm challenges confronting the nation post COVID-19 global economic environment, he said.

-- BERNAMA