KUALA LUMPUR: The countryâs economic recovery can currently be measured by four key indicators, namely the retail sector, hotel accommodation, crude palm oil prices, and SMR 20 rubber price, said Deputy Minister in the Prime Ministerâs Department (Economy) Arthur Joseph Kurup.
He said all these indicators formed the benchmark for the countryâs economic recovery next year with the target of gross domestic product (GDP) of between 6.5 percent and 7.5 percent.
âThe retail sector is starting to show a gradual recovery, with the hotel accommodation rate nationwide rising to 24.3 per cent after the Conditional Movement Control Order (CMCO) was lifted and interstate travel allowed.
âCrude palm oil price hit a high of more than RM3,000 (RM3,422) per tonne in November while SMR 20 rubber price rose to a high of RM6.33 per kilogramme in November,â he said in response to a supplementary question from Senator Datuk Teo Eng Tee at the Dewan Negara today.
Teo wanted to know about the key indicators that would spur the countryâs economic recovery following the Covid-19 pandemic.
On the governmentâs long-term efforts in reviving the countryâs economy, Arthur said the preparation of the 12th Malaysia Plan (12MP) was now in the final stages.
âThe strategies to be implemented under the 12MP take into account the various economic recovery and revival efforts following the Covid-19 pandemic, as well as addressing the issue of economic structure to ensure more inclusive and sustainable growth,â he said.
He believes that all strategies and measures taken by the government would not only restore the countryâs economy but also protect the welfare and well-being of the people. â Bernama
