PETALING JAYA: The tabling of the much awaited 12th Malaysia Plan for 2021-2025 will hinge on how fast the uncertainties at the political front and the ravaging Covid-19 can be contained, say economists and analysts.
He also described the pandemic as providing a “once-in-a-lifetime” opportunity for a great economic reset. Similarly, businesses had to deal with the ever changing standard operating procedures . In this scenario, Ferlito said without an exit plan and a clear economic strategy, there is no recovery on the horizon. Therefore, the 12MP will need to address the current lack of strategy factor, he pointed out.
These include ameliorating the unequal economic impact of the pandemic and leveraging on opportunities to rebuild a society and economy that is more resilient to future shocks, that include disruptive digital technologies, climate change, natural disasters and pandemics, he said. “First and foremost, we must come to terms with our taxation system, both direct and indirect, which must move alongside three variables: a growing economy, changing demographics, and the external environment. The government must make this crystal clear from the very beginning.
In fact, the sooner we push for infrastructure spending, the better. Lastly, there should also be measures that include rebuilding industries that were heavily affected by the lockdowns, such as aviation, healthcare, and tourism.
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