Medium to long-term economic recovery plan ready by October, says Tok Pa

Minister Mustapa Mohamed says the past four months have been challenging due to the outbreak of Covid-19.

PETALING JAYA: Putrajaya’s medium to long-term economic recovery plan will likely be revealed to the public by October, Minister in the Prime Minister’s Department in charge of the economy Mustapa Mohamed said today.

Mustapa, also known as Tok Pa, said the recovery plan was among three important documents Putrajaya would be presenting to the public, including the 2021 Budget on Nov 6 and the 12th Malaysia Plan next year.

He said the recovery plan would give the government the chance to address the challenges facing the nation and come up with reform measures for the economic structure.

“We will be looking at labour market reforms, the issue of quality investments and the digital economy, of course, is an important component in the reform process.

“These three major documents will be providing some guidelines for the long-term growth and sustainability of Malaysia’s economy.

“Hopefully we will be able to announce a number of major reforms,” he said in his keynote address at Bursa Malaysia’s Invest Malaysia 2020 virtual conference today.

He noted that the past four months had been challenging due to the Covid-19 pandemic, adding that the economic crisis was unlike others Malaysia had faced.

“It wasn’t a run-of-the-mill economic crisis like the previous three we went through. But it was a health crisis, and some would add that it was also a political crisis in late February.”

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