PUTRAJAYA: Newly-appointed Prime Minister Tan Sri Muhyiddin Yassin has emphasised the need for more prudent spending and to reduce leakages to ensure the nation’s continued financial stability.
At a briefing on Malaysia’s economic and fiscal situation here today, Muhyiddin said he also wants the country’s debt and liabilities to be given attention, with every project to be implemented fine-tuned so as not to add to the government’s financial commitments and debt.
The Prime Minister’s Office (PMO) in a statement today said Muhyiddin was briefed about the country’s current economic and fiscal situation as well as the recently announced Economic Stimulus Package 2020 (ESP).
The briefing was conducted during a meeting lasting about two hours at Perdana Putra here attended by Chief Secretary to the Government Datuk Seri Mohd Zuki Ali, Treasury secretary-general Tan Sri Ahmad Badri Mohd Zahir, Economic Affairs Ministry secretary-general Datuk Saiful Anuar Lebai Hussen, economic chief at the Finance Ministry’s Fiscal and Economic Division Dr V. Sivabalasingam, and Finance Ministry National Budget Office director Johan Mahmood Merican.
The PMO said Muhyiddin expressed his view that the annual budget allocations should be able to bring substantial returns to economic growth while generating income for the people and the nation.
“The effectiveness of government programmes and projects should be further enhanced so that public money spent can bring full benefit to national development and the people’s wellbeing,” it said.
Muhyiddin directed the government’s machinery to give serious attention to implementing and accelerating the implementation of the initiatives in Budget 2020 and ESP.
The statement said the discussions also centred around empowering domestic economic activity and safeguarding the people’s wellbeing in the bid to advance the nation’s economic competitiveness.
On the stimulus package, it said the Finance Ministry should ensure all the initiatives are smoothly and immediately implemented as well as monitor their overall impact and performance - Bernama
