Finance Ministry: Longer-term fiscal management needed to ensure nation’s future resilience | Malay Mail

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Finance Ministry: Longer-term fiscal management needed to ensure nation’s future resilience

KUALA LUMPUR, Nov 1 — Despite the immediate short-term priority on recovery from the effects of Covid-19 pandemic, a longer-term perspective on sustainable fiscal management is required to ensure the future resilience of the nation, Treasury secretary-general Datuk Asri Hamidon said.

Thus, Asri said the MoF plans to table the Fiscal Responsibility Act in the Parliament in 2022, in line with its aim to remain committed towards sustainable fiscal management in the medium term. “At the same time, reform needs to be undertaken to ensure GLCs do not crowd out private sector but in fact, crowd in through support of local vendor development,” he said.

Although with depleted cash reserves and savings, he said the government will continue to support, especially those in need through cash assistance.

 

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