Quality investments, social protection among the measures in structural economic reforms

KUALA LUMPUR: The government will take measures and approaches to attract quality investments, transition to a low carbon economy, improve social protection, strengthen fiscal resilience to ensure that economic structural reforms are implemented in an orderly manner.

In a posting on his Facebook page today, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim said this is to boost growth and strengthen the foundations of the country’s economy.

“InshaAllah, these measures will be implemented with the support of Bank Negara Malaysia (BNM) and all relevant departments,” he said after visiting BNM with both Deputy Finance Ministers Datuk Seri Ahmad Maslan and Steven Sim as well as senior officials of the Finance Ministry to attend a briefing on the prospects, challenges and focus of the country’s current economic policy.

Anwar said BNM also informed about the state of the country’s economy which has strengthened post Covid-19.

“However, the government must think about the current challenges to the national economy by taking into account risks such as slow global growth, conflicts and geopolitical problems at the international level that continue to worsen and disruption to the food supply chain.

“The government will act swiftly with a short-term and long-term approach to deal with this problem,” he said.

Meanwhile, BNM through a tweet on its Twitter page said it also underlined the importance of structural reforms so that the country can attract more quality investment, create job opportunities that generate good income for Malaysians and strengthen the country’s social protection system.

“With the challenges we are facing now, Malaysia needs to give priority to securing the future, whether through a digital economy or an orderly transition to a more sustainable economy.

“BNM will continue to implement the mandate to promote a more sustainable economy for Malaysia,” it said. – Bernama

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