Malaysia announces over 57-bln-USD package to deal with COVID-19

Malaysian Prime Minister Muhyddin Yassin on March 27 announced an economic stimulus package worth 250 billion RM (57.5 billion USD) to deal with negative impacts of the COVID-19 pandemic.

30, Mar. 2020

Photo by Marcus Loke on Unsplash
Photo by Marcus Loke on Unsplash

KUALA LUMPUR, VNA - Malaysian Prime Minister Muhyddin Yassin on March 27 announced an economic stimulus package worth 250 billion RM (57.5 billion USD) to deal with negative impacts of the COVID-19 pandemic.

The package, which includes 128 billion RM for welfare programmes and 100 billion RM to support businesses including small and medium enterprises, is meant to assist those who are most adversely impacted by the economic disruption from the COVID-19 outbreak.

“No one will be left behind,” said Prime Minister Muhyiddin Yassin during the live telecast announcement.

He added that 10 billion RM in cash will be spent to support the lower and middle income groups.

The stimulus package is in addition to the 20 billion RM fiscal stimulus package announced on February 27.

By the end of March 26, the country reported 2,031 confimed infections, including 24 deaths. The Government decided to extend the movement control order to April 14, instead of March 31 as before. - VNA