Economic Affairs Minister Mohamed Azmin Ali says the economic stimulus package is being fine-tuned in order to support economic growth.
The government will ensure that development projects approved for 2020 as well as initiatives under the economic stimulus package are implemented immediately, says Mohamed Azmin Ali.
The economic stimulus package is aimed at reducing the impact of the Covid-19 outbreak, which has disrupted global supply chains. “The government will continue to monitor current developments to ensure economic growth remains strong besides guaranteeing the security, health and wellbeing of the people,” he added.
“This trend is also seen as being in line with growth in other Asian countries. This moderation of economic growth follows the global growth slowdown due to the weakness in global trading activities,” he said. The moderation in growth this time around was mainly due to the contraction of the agriculture sector as a result of the uncertain weather and reduced fertiliser application early this year, which had affected oil palm production, he pointed out.
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