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BUSINESS

Austerity measures will not affect approved development projects -- Mustapa

21/07/2022 05:44 PM

KUALA LUMPUR, July 21(Bernama) -- The austerity measures announced by the government will not affect development projects that have been approved, said Minister in the Prime Minister's Department (Economy), Datuk Seri Mustapa Mohamed.

He said such concerns were unfounded because only projects that have not started the procurement process and yet to be advertised will be identified.

Mustapa emphasised that continuous development is important to generate the economy, ensuring that Malaysia will be able to achieve the economic growth forecast of 5.3 per cent - 6.3 per cent this year.

To date, 30 projects with an allocation of RM100 million have been identified.

“This is a small number and has yet to be finalised as the engagement process is ongoing. The most important thing is that development projects will continue,” he said to reporters during the announcement on Gemilang, a training programme by Google.

Mustapa said despite inflationary pressures, the expansion in economic sectors will support economic growth.

However, he noted that there are sectors that are still affected by the aftermath of the COVID-19 pandemic, such as the micro, small and medium industries. 

In a Malaysian Treasury Circular issued by the Ministry of Finance recently, the government said the restructuring of the operating expenditure allocation was to help fund part of the additional subsidy-related expenditure for the benefit of the people.

Meanwhile, Google’s new digital training programme, Gemilang, is expected to help Malaysians develop digital skills and gain access to high-demand jobs. 

Google Malaysia managing director Marc Woo said under the programme, 31,000 Google Career Certificate scholarships will be offered through local partners, including education institutions, industry partners and non-profits to allow more Malaysians to benefit from the programme and earn a certificate at no cost. 

-- BERNAMA 

 

 


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