News: Finance Minister: Economic Recovery On Track With COVID-19 Vaccination Programme’s Kick-Off

Feb 25, 2021

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz believes Malaysia is on track for economic recovery with the rollout of the National COVID-19 Immunisation Programme.

This comes as economic recovery would follow public health’s recovery, he said as quoted by Bernama.

He noted that many economic sectors, including the retail and tourism sectors, were waiting for the reopening of borders not only within the country but also abroad

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Tengku Zafrul added that the World Bank expects Malaysia’s economy to grow by between 5.6% and 6.7% this year, following the COVID-19 vaccination programme’s global rollout – in line with the 4% world economic growth forecast.

The Malaysian government targets to vaccinate around 27 million people by the first quarter of 2022, or more than 80% of the country’s population, to achieve herd immunity.

Meanwhile, the Finance Minister – during his presentation of the 42nd Implementation and Coordination Unit Between National Agencies (LAKSANA) report – urged small and medium enterprises (SMEs) as well as micro-SMEs within the tourism sector still affected by the COVID-19 pandemic to avail of the RM1 billion Penjana Tourism Financing offered by the government.

The government has approved only 282 applications, which involve RM57.1 million in financing, as of 12 February under the Penjana Tourism Financing scheme.

 

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