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PEMERKASA: Revitalise A Sustainable Recovery
Program Strategik Memperkasa Rakyat dan Ekonomi (PEMERKASA): Revitalise A Sustainable Recovery
- The Government rolled out a RM20 billion Program Strategik Memperkasa Rakyat dan Ekonomi (PEMERKASA) containing twenty initiatives under the fifth stage “Revitalise” of the 6Rs (Resolve, Resilience, Restart, Recovery, Revitalise and Reform) economic recovery plan.
- This package incurs new fiscal injection of RM11.0 billion, and will push the overall fiscal deficit to 6.0% of GDP in 2021 (2020: -6.2% of GDP) from the earlier target of -5.4% of GDP made during the tabling of 2021 Budget in November 2020. Malaysia's statutory debt is expected to hit 58.5% of GDP in 2021.
- PEMERKASA program marks the seventh economic stimulus and recovery package. Since the COVID-19 pandemic in 2020, the Government has rolled out a total of six major and small economic stimulus and recovery packages totalling RM340.0 billion or 24.0% of GDP to save life and economy. Total fiscal injection amounted to RM72.6 billion for the period 2020 to 17 March 2021.4
- It outlines five main focuses to revitalise and strengthen the economic recovery. (i) Containing the spread of the COVID-19; (ii) Spurring economic recovery; (iii) Strengthening of nation competitiveness; (iv) Implementing the agenda of regional and community inclusiveness; and (v) Transforming the economy.
ACCCIM Malaysia's Business and Economic Conditions Survey (M-BECS) Report 2H 2020 and 1H 2021F
The Associated Chinese Chambers of Commerce and Industry of Malaysia’s (ACCCIM) Malaysia’s Business and Economic Conditions Survey (M-BECS) was conducted from 16 November 2020 to 15 February 2021, covering the second half-year of 2020 (Jul-Dec 2020) and expectations for the first half-year of 2021 (Jan-Jun 2021), has received 696 responses.
The survey is a good barometer to gauge Malaysian Chinese business community’s assessment and expectations about domestic business and economic conditions as well as their prospects.
It covers questions to measure expectations about the prospects of economic and business performance; the main factors affecting business performance; and to gauge the implications of current issues and challenges faced by businesses.
This survey report is collaborated with and prepared by Socio-Economic Research Centre (SERC).