The government has not used foreign borrowings to fund the execution of the Prihatin Rakyat Economic Stimulus Package and the National Economic Recovery Plan .said instead, it has been using local borrowings by tapping into the local bond market, especially Malaysian Government Securities and Malaysian Government Investment Issues .
The expected deficit for 2020 took into account the oil price which was at US$30 per barrel and the execution of the government’s stimulus and short-term recovery plans. In line with the reopening of the country’s economy in phases, which saw 12.7 million or 83.5% of workforce returning to work so far, Tengku Zafrul was confident that Malaysia is better prepared to head for the road to recovery in 2021.
Meanwhile, for the medium and long term, Tengku Zafrul acknowledged that the Internet access and digital services would continue to be the key focus for the government to address.
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