KUALA LUMPUR, Sept 27 — The government’s financial position is expected to improve in 2023 with the strengthening of the economy after being hit by the Covid-19 pandemic for two consecutive years, Prime Minister Datuk Seri Ismail Sabri Yaakob said today.
“Malaysia also has not been spared from the effects of the pandemic. Looking back at the achievements during the 11th Malaysia Plan period from 2016 to 2020, the Gross Domestic Product grew by an average of 2.7 per cent per annum, which was below the original target,” he said in his speech when tabling the the 12th Malaysia Plan 2021-2025 in Parliament today.
The eight assistance and economic stimulus packages implemented starting March 27 had successfully stabilised the country’s economy, he said, adding that the GDP rebounded by 16.1 per cent in the second quarter of 2021 after four consecutive quarters of contraction. “God willing, we expect the government’s financial position will improve in 2023 when the economy becomes stronger,” he said, citing the fifth verse of the Quran’sHe said that in the 11MP, the government had spent RM248.
“I understand that Keluarga Malaysia places high hopes on the government to address the health and economic crises. The government has received many suggestions from the public, Members of Parliament and state governments,” he said.
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