MOF focusing on short- to medium-term plans to rebuild economy post-MCO

(MMO) – The Finance Ministry has identified three short-term objectives as part of its plans to boost the economy after taking a hit from the movement control order (MCO) to battle the Covid-19 pandemic.

Its minister Senator Tengku Datuk Seri Zafrul Tengku Abdul Aziz said in a press statement today that his ministry has been in talks with the Economic Planning Unit (EPU) as well as industry players and stakeholders in charting the post-Covid-19 economic plan.

“Among our short- and medium-term objectives include building business and individual capacity; rebuilding consumer confidence and creating a more positive investment environment for the future,” said Tengku Zafrul.

Currently, the Finance Ministry’s focus is on short- and medium-term efforts which will take place immediately after the MCO is lifted.

The senator added that digital technology will play an important role to ensure the nation’s competitiveness and the ministry has taken note of the challenges under the ‘new normal’.

The plan being drafted will connect and complete the previous economic stimulus packages that were announced by Prime Minister Tan Sri Muhyiddin Yassin to support the business sector and prop up the economy.

“This economic recovery and development strategy will be tabled for the consideration of the Economic Action Council and the Cabinet in the near future,” he said.