In a recent Parliamentary session, Prime Minister Tan Sri Muhyiddin Yassin has assured that the government is taking stern measures to ensure that no Malaysians are left out, especially the Below 40 (B40) group, in the implementation of the Prihatin Rakyat Economic Stimulus Package (PRIHATIN).
The Malaysian government has implemented the PRIHATIN stimulus package worth RM250 billion, PRIHATIN Supplementary package RM10 billion and the National Economic Recovery Plan (PENJANA) worth RM35 billion to reduce the impact of the COVID-19 pandemic.
Answering questions raised in the Parliamentary session, PM Yassin said, “We will ensure that all groups, especially in Sabah and Sarawak, will not be left out in receiving the government’s assistance to ease their burden in facing the COVID-19 pandemic.”
Prime Minister Tan Sri Muhyiddin Yassin added that so as to monitor the implementation of PRIHATIN nationwide, there were more than 53 government agencies under the Economic Stimulus Implementation & Coordination Unit Between National Agencies (LAKSANA).
He said, “The country’s economic growth will experience a significant contraction in the second quarter due to the implementation of Movement Control Order, but our economy is expected to rebound in the third and fourth quarters after the reopening of the economy.”
The Department of Statistics Malaysia has estimates that the nation’s unemployment rate will rise to 5.5 per cent due to job losses brought about by the COVID-19 pandemic, to which the Malaysian PM has stated that the government understands the challenges ahead and assured that the stimulus packages will aid them face the harsh waves of the pandemic’s economic fallout.