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Malaysia’s Economic Restart Is Going As Planned, Says MOF

Malaysia’s Economic Restart Is Going As Planned, Says MOF

Akmal Hakim

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The Ministry of Finance (MOF) says that Malaysia’s path to economic recovery from the Covid-19 pandemic is now underway.

After months of stagnation during the extended lockdown period, businesses and services in the country are now allowed to operate, provided strict guidelines and standard operating procedures (SOPs) by the authorities.

Tengku Zafrul speaking during a live Facebook broadcast from Putrajaya.
(Credit: Facebook/Tengku Zafrul)

According to Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz the Covid-19 pandemic has notably impacted markets and economies across the globe and that Malaysia along with other nations would need ample time to recover.

Providing a status report on the Covid-19 Prihatin Rakyat Economic Stimulus Package (ESP), the minister pointed out that Malaysia is currently in the “restart” or “regeneration” phase of the government’s plans amid the coronavirus crisis.

We’re now in stage 3 of the plan.
(Credit: MOF)

The minister clarified that during this period, the nation would be focused on achieving 3 main goals; protecting the rakyat, supporting businesses, and reinforcing the nation’s economy.

Objectives under the 3rd phase.
(Credit: MOF)

Explaining details on the government’s objective in safeguarding the public’s financial security, Tengku Zafrul said that programs introduced under the ESP such as the bank loan moratorium, Bantuan Prihatin Nasional (BPN), i-Lestari withdrawals and others are already being distributed.

Programs and allocations under the ESP
(Credit: MOF)

For Malaysians who’ve unfortunately been excluded or missed out on getting benefits under the ESP, the government asks for the public to remain patient with the necessary processes and keep on trying to apply for the many aid programs and financial relief benefits that are available throughout the Covid-19 crisis.

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