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Thursday, December 31, 2020

Govt to consider fiscal injection if situation warrants it - PM

 


The government is ready to consider a strategic fiscal injection if the current economic situation warrants it, like the previous economic stimulus packages, said Muhyiddin Yassin.

The prime minister said driving the country's economic growth after Covid-19 was one of the government's five strategies laid out for next year.

"The government will help as much as possible to ease the burden of the rakyat, eradicate poverty, and improve their well-being.

"When the rakyat's economy is strong, it will be easier for us to drive the country’s economic growth after Covid-19.

"We cannot be complacent and take the success that we have achieved today for granted," he said when delivering a new year message for 2021 which was broadcast live tonight.

Muhyiddin said the government had taken an inclusive approach in addressing the issue including the cost of living, people's livelihoods, and poverty, especially during Covid-19 by introducing four economic stimulus packages worth RM305 billion.

These included various measures to preserve the well-being of the people, warrant business sustainability and acceleration, as well as ensuring the economy is on track for recovery, he said.

On other integrated strategies, Muhyiddin said the government would ensure that the country's political stability, including good governance, becomes the basis for a sustainable economic recovery.

The government will also ensure that the country's sovereignty is protected and Malaysia's position on the international stage is strengthened, he said.

“I believe that political stability and good governance will be able to create a conducive investment ecosystem to ensure that Malaysia remains a major investment destination in the Southeast Asian region and hence, accelerate the country's economic recovery process,” he said.

Muhyiddin said besides strengthening ties with neighbours in the Asean region, the government will continue to strengthen diplomatic and economic ties with countries that share similar aspirations, through existing and future platforms.

Malaysia's relations with foreign countries in terms of diplomacy, security, and economy will always be based on strategic interests for the long term, he said.

He said another priority earmarked for 2021 was that the government would improve public health through procurement of Covid-19 vaccines and the launch of the vaccination programme nationwide.

The government will also ensure that relations between races and religions are strengthened in forming a united society as a bulwark against any threats.

Bernama

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