Malaysia unveils economic stimulus package

Malaysia’s interim Prime Minister Mahathir Mohamad on February 27 announced an economic stimulus package worth 20 billion RM (4.7 billion USD) to mitigate the economic impact of the COVID-19 outbreak.

28, Feb. 2020

Photo by Johen Redman on Unsplash
Photo by Johen Redman on Unsplash

KUALA LUMPUR, VNA - Malaysia’s interim Prime Minister Mahathir Mohamad on February 27 announced an economic stimulus package worth 20 billion RM (4.7 billion USD) to mitigate the economic impact of the COVID-19 outbreak.

He said the stimulus package is targeted at tackling the impact of the outbreak, catalysing people-based growth, and encouraging quality investment.

To promote the domestic tourism industry, the Government will introduce personal income tax relief of up to 1,000 RM on expenditure related to domestic tourism.

Mahathir said all Malaysians will be eligible to digital vouchers for domestic tourism of up to 100 RM per person for domestic flights, rails and hotel accommodations.

The Government will also give a one-off payment of 600 RM each to taxi drivers, tourist bus drivers, tour guides and registered trishaw drivers.

As a sign of appreciation to those in the front line protecting Malaysia from the contagion, Government staff directly involved in the containment efforts will be eligible for a special monthly allowance of 400 RM for medical doctors and other medical personnel, as well as 200 RM for immigration and related front line staff commencing February 2020 until the end of pandemic. - VNA