Muhyiddin as caretaker PM can help maintain economic recovery, Covid-19 vaccination rollout, say analysts
KUALA LUMPUR, Aug 16 — The palace’s decision to appoint Tan Sri Muhyiddin Yassin as the caretaker prime minister after he tendered his resignation today would help maintain economic recovery efforts and the progress of the vaccination rollout that will be key in the country’s recovery from the pandemic.
“The gross domestic product outlook remains challenging but fundamentals are solid. Once the economy gradually opens up and economic activities commence, we can expect momentum to be generated,” he told Bernama. Shan said the Malaysian economy has shown resilience in the last 18 months with the government trying its best to maintain macro economic stability which is key to economic growth.
The Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah today gave consent to Tan Sri Muhyiddin Yassin to act as caretaker prime minister until a new prime minister is appointed. Moody’s Investors Service’s vice-president and senior analyst Christian Fang said in a statement that “although a period of political uncertainty may occur in Malaysia given the resignation of Prime Minister Tan Sri Muhyiddin Yassin, we expect the country’s credible and effective institutions to limit the impact on its macroeconomic policies and credit profile as demonstrated over past episodes of abrupt political change.
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