150,000 found jobs through Malaysian government initiative
Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the initiative provides 600,000 job opportunities with an allocation of RM4.8 billion (US$1.1 billion)
“Among the benchmark of this initiative is the national unemployment rate, whereby during the COVID-19 pandemic, the unemployment rate rose to 5.3% in May 2020, but during the transition phase to endemicity, the rate fell to 3.9% in April 2022.
“The government’s unemployment rate target for this year is 4.0%, but it fell to 3.9%,” he said, while highlighting that the government will launch 25 strategic initiatives under Budget 2022 in the second half of this year.
Overall, up to April 2022, a total of 257 out of 282 strategic initiatives monitored by the Budget 2022 Monitoring Committee had started to be implemented, added Tengku Zafrul.
The minister said Budget 2023 will continue the current recovery momentum and focus on structural reforms and strengthen the country’s economic resilience.
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He said that with the theme of the budget to strengthen recovery and facilitate reforms toward sustainability of economic resilience and well-being of Keluarga Malaysia, the government’s focus is still on the people, businesses, and economy, according to Bernama.