Program Strategik Memperkasa Rakyat dan Ekonomi (PEMERKASA): Revitalise A Sustainable Recovery
- The Government rolled out a RM20 billion Program Strategik Memperkasa Rakyat dan Ekonomi (PEMERKASA) containing twenty initiatives under the fifth stage “Revitalise” of the 6Rs (Resolve, Resilience, Restart, Recovery, Revitalise and Reform) economic recovery plan.
- This package incurs new fiscal injection of RM11.0 billion, and will push the overall fiscal deficit to 6.0% of GDP in 2021 (2020: -6.2% of GDP) from the earlier target of -5.4% of GDP made during the tabling of 2021 Budget in November 2020. Malaysia's statutory debt is expected to hit 58.5% of GDP in 2021.
- PEMERKASA program marks the seventh economic stimulus and recovery package. Since the COVID-19 pandemic in 2020, the Government has rolled out a total of six major and small economic stimulus and recovery packages totalling RM340.0 billion or 24.0% of GDP to save life and economy. Total fiscal injection amounted to RM72.6 billion for the period 2020 to 17 March 2021.4
- It outlines five main focuses to revitalise and strengthen the economic recovery. (i) Containing the spread of the COVID-19; (ii) Spurring economic recovery; (iii) Strengthening of nation competitiveness; (iv) Implementing the agenda of regional and community inclusiveness; and (v) Transforming the economy.