S’wak economy will recover: Minister

Datuk Seri Mustapa Mohamed. Photo: Bernama

KUCHING: Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed is confident that Sarawak will recover from the economic downturn following the Covid-19 pandemic.

He said the state government has its agenda to aggressively recover from the worldwide economic slump and propel the state towards developed status come 2030.

“Digital economy will be a major component in this and will be the catalyst for economic recovery. I was also informed that the agriculture sector will be one of the sectors to be given emphasis,” he said at a press conference here yesterday.

Mustapa noted that the state government was also planning to develop businesses across the border with Indonesia after it shifted its capital from Jakarta to East Kalimantan.

He also expressed confidence that the state’s economy would remain strong with more investors coming in from Japan and China.

Mustapa praised the state government’s initiative to allocate a total of RM2.5 billion through the Sarawakku Sayang Special Assistance aid (BKSS) to help the people severely affected by Covid-19.

“This is the biggest (stimulus package) compared to other states, so surely it will help to alleviate the burden of the people, especially the B40 group,” he added.

The minister said the world economy was recovering one step at a time after Covid-19, adding that some sectors recovered more rapidly than others.

“These are manufacturing, construction and agriculture. The sectors that are still struggling to recover are tourism, retail, aviation and services,” he said.

He added the national unemployment figure was recovering with Malaysia recording 5.3 percent unemployment in May.