Details of Economic Recovery to be Presented in the 12MP & 2022 Budget - Kakiforex.com - Financial Market Media No. 1 in the World Details of Economic Recovery to be Presented in the 12MP & 2022 Budget Details of Economic Recovery to be Presented in the 12MP & 2022 Budget
InstaForex

July 26, 2021

Details of Economic Recovery to be Presented in the 12MP & 2022 Budget

 The robustness of the National Recovery Plan (PPN) and details on measures in other economic recovery will be announced by the government at the presentation of the 12th Malaysia Plan and the 2022 Budget.


Prime Minister Tan Sri Muhyiddin Yassin said the 12MP is expected to be tabled in the Dewan Rakyat on September 20, 2021 and the 2022 Budget on October 29, 2021.


"Three main focuses will be on the 2022 Budget, among which are the agenda to drive economic recovery, rebuild the country's resilience and catalyze reform or Recovery, Resilience, Reform," he said.


Particular focus will be more on efforts to rehabilitate affected sectors such as tourism and enhance the capacity of the public health system as well as the scope of social protection.


In addition, focus will also be given to planning to boost the digital economy in an effort to strengthen the country's competitiveness in the face of new global norms.



In another statement, the government expects most states to move to Phase Four of the VAT as early as October.


The statement was made by him during the ministers' briefing session at a special session of the Dewan Rakyat today.


According to the Finance Ministry, he will publish a Pre-Budget statement including a citizen consultation document on policy focus in August.


The statement will also be published in line with efforts to increase the transparency of the process as well as the involvement of the people in the preparation of the annual budget.


A National Recovery Plan Portal has been developed by the government as a reference source to display information on the latest VAT and Standard Operating Procedures (SOPs).