Friday, 06 Nov 2020 04:28 PM MYT
The treasury’s GDP forecast is within the range of Bank Negara Malaysia’s 5.5 per cent and eight per cent for 2021. For 2020, BNM estimated it to be between -5.5 per cent and -3.5 per cent. However, the favourable outlook hinges on two major factors, namely the successful containment of Covid-19 and sustained recovery in external demand, it noted.
“Monetary policy will continue to be supportive of the domestic economy, while the banking sector will remain robust and orderly, underpinned by ample liquidity and strong capital buffers. The immediate focus of the government in managing the crisis is on ensuring the safety of the people and addressing the needs of households and businesses adversely affected by the pandemic.