MALAYSIA is maintaining its gross domestic product (GDP) growth target of between 6.5% and 7.5% for 2021 despite the Emergency declaration and the second round of the movement control order (MCO 2.0) enforcement, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
“It is still early and we are still in the first quarter of the year. So we are maintaining it (for now) but our forecast is at risk given with (what is happening) during the MCO 2.0.
“It (the GDP) will be at the lower end of our forecast,” he said during an interview with Bloomberg earlier today.
Tengku Zafrul said the stability and persistency of policies were crucial in controlling COVID-19 and enabling the country to be on this economic recovery path.
He said that the Government is committed to supporting businesses and the people as well, and ready to deploy more resources to combat the deadly virus if needed, he said.
“The impact (of loses on the economy) per day during the previous MCO was around RM2.4 bil, but this time around (MCO 2.0), it is about RM700 mil per day.
“Additionally, we have also started to implement various stimulus packages that is still ongoing, and the recently approved Budget 2021 and the recent assistance package (Economic and Rakyat Protection Assistance Package or PERMAI) will help to mitigate the impact on the economy,” the minister said. – Jan 22, 2021
