Over RM 156 billion spent on four economic stimulus and aid programs

KUALA LUMPUR: Almost 70%, or 156.18 billion RM, of the 225 billion RM allocated under the four economic stimulus and aid plans launched this year have been spent to stimulate the country’s economy as of November 30, 2021, said the Dewan Negara today.

Deputy Finance Minister II Yamani Hafez Musa said the four packages were the Economic Protection and Rakyat Assistance Package (Permai), the Strategic Program to Empower the People and the Economy (Pemerkasa), Pemerkasa More and the National People’s Welfare and Economic Recovery Package (Pemulih).

He said that after the implementation of these packages, a trend of economic recovery could be observed with the growth of the national economy of 3% in the first nine months of this year, compared to a contraction of 6, 4% in the corresponding period of 2020.

He said lifting interstate travel restrictions and reopening almost all economic sectors, as well as resuming most social activities as part of the national stimulus package, would also help boost the Malaysian economy.

“Advances in the National Covid-19 Vaccination Program (PICK) have increased domestic demand and boosted positive sentiment among businesses and consumers, while helping those affected and ensuring business continuity.

“The consumer confidence index (of the Malaysian Institute of Economic Research) jumped to 101.7 points in the third quarter of 2021 from 64.3 points in the previous quarter,” he said at the meeting. questions and answers in the Dewan Negara.

He was responding to a question from Senator Datuk Razali Idris who wanted to know to what extent the four packages had rejuvenated the country’s economy.Bernama


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