KUALA LUMPUR, Aug 13 — Efforts are underway to strengthen the strategic levers of the nation in moving towards the reform stage and this includes the new approach adopted by the Ministry of Finance in improving the country’s annual budgeting process to make it more transparent and inclusive, Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said.
Tengku Zafrul said this is also in tandem with the government’s ongoing structural reforms over the medium term through the implementation of, among others, the National Investment Aspirations framework, as well as the Perkukuh Pelaburan Rakyat initiative. The finance minister noted that the outlook for the third quarter 2021 is expected to be quite challenging, given the imposition of the enhanced MCO for two weeks in most parts of the Klang Valley in July as well as the prolonged Phase 1 of the National Recovery Plan in several states which are significant contributors to the nation’s gross domestic product.
“This will also reduce the burden of the healthcare system through lower hospital and ICU admissions,” he said. The manufacturing sector and exports are expected to benefit from the current thriving global demand for electrical and electronics products, hydrocarbons such as crude oil and natural gas as well as personal protective equipment.
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