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Muhyiddin To Make Announcement For Short Term Economic Measures At 3PM

Muhyiddin To Make Announcement For Short Term Economic Measures At 3PM

Hakim Hassan

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Prime Minister, Tan Sri Muhyiddin Yassin is planning to make an announcement today on the short term economic recovery plan at 3 pm.

According to Astro Awani, the plan is being announced a day after Malaysia reportedly registered a trade deficit in April, the first time after recording a trade surplus for 269 consecutive months, as a result of the COVID-19 outbreak.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the short-term economic recovery plan for June to December 2020 would focus on four key features:

  • Being agile and dynamic
  • a focus on public-private sector cooperation
  • comprehensive communications with greater outreach
  • data-driven approach

The pandemic has left the economy in tatters as almost all industries have been affected.

Reports surfaced that many have lost their jobs or faced salary cuts because companies can’t cope with the current situation and the worst is yet to come as associations foresee that it will be worse in the coming months.

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