The Crisis and Policy Response

National Economic Recovery Plan
Chapter 1


A national economic crisis requires a National Economic Recovery Plan (NERP). This document presents six strategic areas for action to address the crisis and its pervasive negative effects on the Malaysian economy and people that was brought about by the ringgit depreciation and the collapse of the stock market.

While it is generally recognised that Malaysia has strong economic fundamentals, the most urgent and critical need is to restore or re-establish confidence in Malaysia's macro-economic stability. The currency crisis has also brought into focus the strengths as well as weaknesses of the economy.

There is an urgent need for the country to strengthen its economic fundamentals and fulfil its socio-economic agenda, while rectifying inherent weaknesses in the system. This should set the stage for the next stage of the countryís development.




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