Illustrative image (Photo: themalaysianreserve) Kuala Lumpur (VNA) – Malaysian Finance Ministry has stressed that Malaysiawill not suffer an economic crisis in 2023 despite the challenges of globaluncertainty.
Answeringquestions at the legislature on March 14, Malaysian Deputy Finance Minister StevenSim Chee Keong noted that the Government expects the economy to grow around4.5% this year, consistent with what has been projected by the InternationalMonetary Fund (IMF) and the World Bank, which predicted the growth rate ofbetween 4.4% and 4%, respectively.
He stressed that the Government will also makeMalaysia a more attractive investment destination by simplifying the investmentprocess, creating more start-ups that are highly innovative, as well ascreating more jobs with a decent income.
According to him, subsidies, cash aid andvarious incentives with a total allocation of 64 billion RM will continue, alongsidethe ceiling price setting programme as well as price standardisation forcertain basic necessities.
To rebuild micro, small and medium enterprises(MSMEs) in the post-pandemic period, he said the Government has providedincentive funds, tax deductions, loans and financing guarantees with anallocation of over 40 billion RM./.
