KUALA LUMPUR: Malaysia's economic recovery from the Covid-19 pandemic will require out-of-the-box as well as over-and-above efforts.
This will see the creation of strong economic growth, placing Malaysia right back on the track to achieve its high-income nation status, said National Recovery Council chairman Tan Sri Muhyiddin Yassin.
He said to achieve this, the proposed National Recovery Plan 2.0 (NRP 2.0) should be expedited, covering policies and strategies centred around quality investment, high productivity, and trade creation.
"I recommend that NRP 2.0 with its core, Recovery++, must be inclusive and involve stakeholders through the 'whole of nation' approach.
"Economic recovery efforts must be implemented responsibly by leadership with integrity, efficiently and is people-centric," he said during his debate on the motion of thanks to the royal address at the Dewan Rakyat.
Muhyiddin, who is Pagoh member of parliament, said the NRP 2.0 was on the right track, covering three aspects, namely, output recovery within one to two years, total employment and quality of life.
He said the second and third aspects required sustainable economic growth.
"This is what I labelled as `Recovery Plus Plus (Recovery++)'. Recovery++ needs solid policies and strategies based on quality investments, high productivity, as well as innovation and trade expansion for strong and sustainable economic growth from 2023 to 2025, and thereon.
"Otherwise, we might get caught in the `double-dipped growth', or in an economic terms, 'W-shaped Recovery'," he said.
Muhyiddin said he had recommended to the government to fast-track the implementation of NRP 2.0.
He expressed hope that the country's economy would soon recover and everyone could live a prosperous and happy life.
He said Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah in his royal address had reminded the people to always protect their health, as well as the country's harmony and security.
On 1Malaysia Development Bhd (1MDB), the Parti Pribumi Bersatu Malaysia president slammed former prime minister Datuk Seri Najib Razak who claimed that its debts were not being repaid using public funds.
"It was an inaccurate and confusing statement from the Pekan MP.
"I am baffled as to how Pekan, as a former prime minister and finance minister, could ever forget that 1MDB debts were government-guaranteed.
"When 1MDB failed to settle them, including the interest with an overall amount of RM50 billion, the government was the one responsible to pay them off."
Muhyiddin said the RM13.3 billion so far paid off by the government is the people's money.
"I was made to understand that RM20 billion in cash and assets owned by 1MDB have been recovered and transferred to the Assets Recovery Trust that will then be used to settle part of 1MDB's debts.
"As I have reiterated and explained many times, the country will suffer catastrophe if its leaders do not have integrity.
"Furthermore, the case is known globally as the 'the biggest scandal of the century' involving a network of financial defrauders or the plundering idiots that has caused a national embarrassment."