KUALA LUMPUR: The Economic Recovery Plan (Penjana) will focus on three main components which is to empower the people, propel businesses and to stimulate the economy.
Prime Minister Tan Sri Muhyiddin Yassin said Penjana will achieve these three main components through four key thrusts.
"The first is to enable work and reduce unemployment, second is to ensure affordability and providing liquidity, third is on digitalisation and operating in the New Norm and fourth is to increase consumer and investor confidence," he said.
The Prime Minister said this in a special address to the nation today.
With the theme "Building the economy together", RM35 billion is allocated to Penjana where RM10 billion will be in the form of direct fiscal injection from the government to ensure the 40 initiatives under the plan can be realised.
Penjana is in Stage 4 of Malaysia's Covid-19 journey, focusing on short-term economic recovery for the nation.
"There are six stages altogether and they are called 6R – Resolve, Resilience, Restart, Recovery, Revitalise and Reform," he said.