KUALA LUMPUR: The Malaysian economy is expected to grow between 3 per cent and 4 per cent this year, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said this is supported by stronger external demand and robust trade activities, a ramp-up in commodity production and the materialisation of pent-up demand as well as continued investment in large-scale infrastructure projects.
The recovery is expected to continue next year, with growth ranging from 5.5 to 6.5 per cent.
"This is in line with World Bank and the International Monetary Fund (IMF) projections of 5.8 and 6.0 per cent respectively.
"Growth will be supported by a gradual normalisation of economic activity as well as positive spillovers from continued improvement in external demand," he said in a special address at the Credit Guarantee Corporation (CGC) 26th FI/DFI and SME Awards 2020 virtual ceremony today.
Tengku Zafrul said the year 2022 is a critical year for Malaysian economic recovery as the government expects most sectors and industries as well as employment to gradually recover.
"Therefore, through Budget 2022, we have crafted and curated various strategies and initiatives, focusing on the rakyat's wellbeing, businesses, and a prosperous and sustainable economy," he said.
Worth RM332.1 billion, the expansionary budget considers the aspiration of Keluarga Malaysia, and is aligned with the 12th Malaysia Plan (12MP).
He said through this alignment, the government aims to ensure that businesses receive not only a quick leg up in terms of recovery but also support in ensuring their recovery is sustainable.
Meanwhile, Tengku Zafrul has urged banks and financial institutions, including development financial institutions (DFIs) to step up their efforts to assist the government in driving a strong economic recovery while also ensuring business continuity, particularly in jump-starting businesses when the economy reopens.
He said banks and financial institutions, including DFIs -- have always been a barometer of a nation's socio-economic health, and thus play a critical role in the country's recovery.
The government recognises that many small businesses require capital to restart but face difficulties obtaining financing, therefore, it has allocated RM1.8 billion in various microcredit financing schemes.
"This includes TEKUN's Skim Pinjaman Informal and Mikro, which allows informal workers or micro-enterprises to borrow up to RM10,000 with a 12-month moratorium and a zero per cent interest rate.
"This is in addition to the various microcredit schemes that Bank Simpanan Nasional and Agrobank will implement," he said.
For small and medium enterprises (SMEs), a total of RM14.2 billion is made available, including Bank Negara Malaysia's special funds, especially the Targeted Relief and Recovery Facility, which has been increased by RM2 billion.
In addition, other institutions such as SME Bank, Perbadanan Usahawan Nasional Bhd (PUNB), Bank Pembangunan Malaysia Bhd, AgroBank, MIDF and Majlis Amanah Rakyat (MARA) will also provide funds for SMEs.
"All of these initiatives are meant not only to help businesses restart but also to provide them with the necessary breathing space to build resilience, particularly in transitioning to the new norm," he added.
-- BERNAMA
Bernama
Wed Nov 10 2021
The Malaysian economy is expected to grow between 3 per cent and 4 per cent this year, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. - BERNAMA file photo
Bursa Malaysia dibuka tinggi, teruskan kenaikan
Pada 9.05 pagi, FTSE Bursa Malaysia KLCI (FBM KLCI) naik 2.89 mata kepada 1,585.55 daripada 1,582.66 ketika ditutup pada Isnin.
Apple Pencil baharu hadir dengan sistem haptik
Apabila digunakan pada skrin iPad, pengguna boleh merasakan tindak balas haptik seakan menggunakan pensel sebenar.
[TERKINI] KPM giat laksana pelbagai inisiatif bagi reformasi pendidikan negara
KPM berkata, Laporan Bank Dunia bertajuk 'Bending Bamboo Shoots: Strengthening Foundation Skills' berkenaan sistem pendidikan negara diambil perhatian.
Tentera AS edar gambar jeti maritim Gaza siap dibina
Beberapa gambar pembinaan jeti maritim oleh tentera Amerika Syarikat (AS) di Gaza untuk menghantar bantuan kemanusiaan telah diedarkan Komando Pusat AS pada Isnin.
Pesara tentera maut dilanggar lori menggelongsor
Orang ramai yang mempunyai maklumat berhubung kejadian diminta menyalurkan maklumat berkenaan kepada pegawai penyiasat kes.
Kenaikan cukai perkhidmatan 8% beri kesan kos operasi, unjuran pendapatan Nestle Malaysia dikurangkan
Perbelanjaan operasi bagi 2024 juga diramal bertambah lagi susulan rasionalisasi bahan api yang berkemungkinan dilaksanakan.
Dua sahabat maut dilanggar bas
Mangsa maut di tempat kejadian akibat kecederaan parah di bahagian kepala.
25 terbunuh bas terjunam gaung di utara Peru
Bas antara negeri itu membawa 50 penumpang apabila insiden itu berlaku kira-kira 10.10 malam waktu tempatan.
Jepun, Uzbekistan berentap final Piala Asia B-23
Pasukan yang kalah dalam penentuan tempat ketiga itu akan menentang Guinea yang berada pada kedudukan keempat.
Che'gu Bard tiba di Mahkamah Sesyen Johor Bahru berdepan tuduhan lagi
Beliau yang hadir bersama peguamnya, Muhammad Rafique Rashid Ali, dijangka berdepan satu lagi pertuduhan mengikut Akta Hasutan 1948.
Titah Adendum: Peguam Negara bawa perkara dibangkitkan Tengku Zafrul ke mahkamah
Jabatan Peguam Negara akan membawa perkara berhubung kenyataan yang dibuat oleh Menteri Pelaburan, Perdagangan dan Industri, Datuk Seri Tengku Zafrul Abdul Aziz kepada perhatian pihak Mahkamah.
Kerajaan mahu syarikat Malaysia manfaatkan FTA, teroka pasaran baharu
Katanya, Matrade telah diberikan tanggungjawab untuk menumpukan usaha memperoleh pasaran baharu untuk diterokai syarikat Malaysia.
Tengku Zafrul ke Munich bawa misi pelaburan dalam jeda lawatan PM ke Jerman
Katanya, pihak MATRADE telah anjurkan beberapa mesyuarat dengan rakan dagang besar yang beribu pejabat di Jerman.
Dialog MITI 2024: Kerjasama sektor awam-swasta, agenda perindustrian semula
Pelaksanaan NIMP adalah penting bagi Malaysia untuk terus meningkatkan daya saing landskap perniagaan dan pelaburan negara.
Malaysia perlu sedia ambil risiko terhitung, tempa masa depan ekonomi baharu - Tengku Zafrul
Malaysia perlu bersedia untuk mengambil risiko yang terhitung ketika menempa masa depan ekonomi baharu bagi negara ini, terutama dalam ekonomi digital dan ekonomi hijau.
CPTPP bantu Malaysia raih FDI RM14.9 bilion pada suku ketiga 2023 -- Tengku Zafrul
Tengku Zafrul berkata FDI dari Jepun meningkat sebanyak RM4 bilion manakala dari Australia naik sebanyak RM1 bilion berbanding 2022.
MITI optimistik 2024 tahun lebih positif bagi FDI ke dalam Malaysia
MITI optimistik 2024 akan menjadi tahun yang lebih positif bagi pelaburan langsung asing (FDI) ke dalam Malaysia, memanfaatkan perancangan yang telah dirangka.
ASEAN akan mulakan rundingan DEFA bagi tingkatkan ekonomi digital, jana AS$2 trilion menjelang 2030
DEFA akan dilancarkan secara rasmi pada mesyuarat Majlis Komuniti Ekonomi ASEAN ke-23 dan pengiktirafan oleh Pemimpin ASEAN pada sidang kemuncak serantau ke-23 bulan depan.
Bank-bank Malaysia kekal berdaya tahan dalam mendepani cabaran operasi - Kementerian Kewangan
Tengku Zafrul berkata, isu pinjaman tanpa cagaran bukanlah sesuatu yang luar biasa dalam sektor perbankan.
Peruntukan tambahan RM100 juta bagi urus kewangan, bajet kerajaan - Tengku Zafrul
Ini termasuk RM10 juta untuk Jabatan Audit Negara bagi memperkukuh keupayaan dan pengoptimuman proses pengauditan.