Illustrative image (Photo: themalaysianreserve) Kuala Lumpur (VNA) – Malaysian Finance Ministry has stressed that Malaysia will not suffer an economic crisis in 2023 despite the challenges of global uncertainty.
Answering questions at the legislature on March 14, Malaysian Deputy Finance Minister Steven Sim Chee Keong noted that the Government expects the economy to grow around 4.5% this year, consistent with what has been projected by the International Monetary Fund (IMF) and the World Bank, which predicted the growth rate of between 4.4% and 4%, respectively.
He stressed that the Government will also make Malaysia a more attractive investment destination by simplifying the investment process, creating more start-ups that are highly innovative, as well as creating more jobs with a decent income.
According to him, subsidies, cash aid and various incentives with a total allocation of 64 billion RM will continue, alongside the ceiling price setting programme as well as price standardisation for certain basic necessities.
To rebuild micro, small and medium enterprises (MSMEs) in the post-pandemic period, he said the Government has provided incentive funds, tax deductions, loans and financing guarantees with an allocation of over 40 billion RM./.
