Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said a special focus on empowering the country’s healthcare and tourism sectors will be included in the government’s agenda in Budget 2021 that is set to be tabled November 6, 2020.
“Health issues and matters related to the Ministry of Health (MoH) as well as frontliners for instance will be given special attention in the Budget 2021,” he said.
The government is finalising the preparation of a long-term economic recovery plan
“One of the reasons why our economy has not been able to recover is because the country’s borders are still closed. This affects the national economy. The tourism sector, for example, needs to be revived,” he said.
Even though Malaysia is still struggling against the Covid-19 pandemic, the government still needs to spend to ensure the economy remains stable.
He also shared that the government through the Economic Action Council (EAC) secretariat is finalising the preparation of a long-term economic recovery plan. The 12th Malaysia Plan (12MP), 2021-2025 will be announced in early 2021.
“God willing, with the measures that have been taken and will be taken through Budget 2021, the 12MP and relevant policies, the country’s economy will recover. Our economy will be competitive and sustainable to guarantee the welfare and well-being of the people.”
Budget 2021 will be tabled in Dewan Rakyat this Friday
The pandemic had greatly impacted individuals, households and businesses as well as all sectors of the economy. However, the government had received recommendations to increase spending next year, among others, on infrastructure projects to boost economic growth after a severe downturn due to Covid-19.
Although the economic contraction this year had caused the government’s revenue to plummet significantly, the government remains committed to easing the burden of the people. Budget 2021 will be tabled in Dewan Rakyat this Friday.