Short-Term Economic Recovery Plan (June-December 2020) to be launched this month

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The Short-Term Economic Recovery Plan for June to December 2020 focus namely on empowering the people, propelling businesses, and stimulate the economy

The Short-Term Economic Recovery Plan for June to December 2020 period would focus on three key objectives.

They are to empower people, propel businesses, and stimulate the economy.

According to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz, the Short-Term Economic Recovery Plan for the June to December 2020 period will be launched by Prime Minister Tan Sri Muhyiddin Yassin this month.

He added that he government’s approach was based on four characteristics, namely must be agile and dynamic, prioritising public-private sector cooperation, ensuring comprehensive communication by upholding transparency and openness, as well as using data-based approach.

On agile and dynamic, he said this meant that the plan could be improved and refined continually, according to current needs and uncertain or unprecedented situation, throughout this year.

On prioritising public-private sector cooperation, he said the plan would cover various measures with the cooperation of as many industry players from the private sector, government-linked companies and government-linked investment companies.

On comprehensive communication and wide reach – the people and business sector in Malaysia should play their respective roles to regenerate the country’s economy.

On data-based approach, Tengku Zafrul said the implementation of the plan would be based on data and statistics so that each achievement could be monitored and refined with speed and accuracy.

The Short-Term Economic Recovery Plan is the fourth of the six-phase approach or 6R in withstanding the health and economic challenges due to the COVID-19 pandemic.

The 6R approach are Resolve, Resilience, Restart, Recovery, Revitalise and Reform.

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