Malaysia On the Right Track Towards Economic Recovery: Finance Minister

Malaysia’s Finance Minister Tengku Zafrul Abdul Aziz has stated that Malaysia has in hand the right tools to put the country on the road to recovery, with regards to both the economy, as well as public health.

Delving into the key areas supporting the recovery, Tengku Zafrul cited a combination of recent decisions, including the Overnight Policy Rate (OPR) and Statutory Reserve Ratios (SRR), the Malaysian Economic and Rakyat’s Protection (PERMAI) stimulus package (which includes the COVID-19 vaccine procurement and encourages employee screening), and the Budget 2021 initiatives.

The Finance Minister noted Bank Negara Malaysia’s decision to maintain the OPR at 1.75% as ‘appropriate’. Furthermore, the flexibility for banking institutions to...