Implement economic stimulus package now, govt told

  • Nation
  • Friday, 14 Feb 2020

Datuk Dr Asyraf Wajdi Dusuki

PETALING JAYA: Stop the blame game and implement the economic stimulus package as soon as possible, says Datuk Dr Asyraf Wajdi Dusuki.

“The strategy of blaming everything on Barisan Nasional must stop with more focus given to remedy the strategic management of the economy under Pakatan Harapan government, which has evidently failed, ” he said.

The Umno Youth chief said the implementation of the economic stimulus package would bolster investor confidence, following Bank Negara’s announcement that the nation’s economy grew by 4.3%, the lowest in a decade.

Bank Negara also projected a drop in tourist arrivals from China and Singapore for the first quarter of this year.

Tourists from China contributed RM3.7bil while tourists from Singapore brought in RM6.17bil towards tourism revenue collection for the first quarter of last year.

Asyraf said the government must implement infrastructure projects to spur economic growth instead of relying on monetary policies, such as lowering the Overnight Policy Rate.

PAS economy, property and entrepreneur development bureau deputy chairman Mazli Noor said the stimulus package should be between RM19bil to RM21bil to achieve the targeted 4.8% economic growth for this year.

“We agree with the government’s proposal that tourism and retail sectors need stimulus support to ensure continued support for domestic demand.”

On Monday, Prime Minister Tun Dr Mahathir Mohamad said the nation’s economy was expected to grow by 4.8% this year despite the potential global economic slowdown due to the Covid-19 (novel coronavirus) outbreak.

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