BNM: Budget 2021 need to be supportive of Malaysia’s recovery
The headquarters of Bank Negara Malaysia in Kuala Lumpur, March 30, 2015. — Picture by Yusof Mat Isa
“As you know for this year the government has already stated that we will have a fiscal deficit of 5.5-6.0 per cent and that is to be expected because fiscal measures are necessary,” said Bank Negara Malaysia Deputy Governor Jessica Chew during a virtual briefing for business editors in conjunction with the release of the Financial Stability Review — First Half 2020, today.
She said while the central bank is concerned over the increase in number of Covid-19 cases, it is confident of the measures introduced by the government, coupled with the open economy advocated by the country, which has been instrumental in employment creation and income growth.
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