budget 2022

Minister for Finance, Zafrul Abdul Aziz, said that the country's economy is growing positively between 3-4% this year, which edges closer to international bodies' forecast of 5-6% growth in 2022.

Malaysia's Budget 2022 will focus on tourism and retail sectors, and support for small and medium enterprises (SMEs) because of how badly the pandemic has affected them, Minister for Finance, Zafrul Abdul Aziz, said on Monday (4 October 2021). According to Bernama's report, this was shared during his work visit to Orang Asli settlement in Kampung Libahan.

Minister Zafrul said that the government is committed to "revive all pandemic-affected sectors", although he is aware that their recovery period may not be the same as one another. That said, the Minister (and the government) is optimistic that the nation's economy will recover in line with International Monetary Fund (IMF) and World Bank's growth projection for 2022.

"This year, Malaysia's Gross Domestic Product (GDP) is expected to grow between three to four percent, while the IMF and World Bank are forecasting a five to six percent growth for 2022. This shows that our economy will recover next year," Minister Zafrul explained.

Beyond looking to help affected businesses, the Minister also said that Budget 2022 will comprise the nation's latest economic growth forecast, as well as the positive signs of the economy with the government's economic intervention.

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Image / Minister Zafrul's Facebook

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