PM to announce stimulus packages involving all ministries

KUALA LUMPUR: Prime Minister Tun Dr Mahathir Mohamad will announce a stimulus package that involves all ministries on expectations the economy will be impacted by the coronavirus (Covid-19) especially in the first quarter.

Bloomberg had on Thursday quoted Transport Minister Anthony Loke as telling reporters in Klang about the proposed stimulus package.

The wire also quoted Loke as saying the Covid-19 hasn’t affected the progress of the East Coast Railway Line's progress during a site visit.

The ECRL is on track for end-2026 completion date, progress at 15%. All 13 ECRL workers from Wuhan are currently in China.

Loke was also quoted saying all scheduled ships are allowed to come to Malaysia. All measures taken for health checks are done on board before passengers disembark.

On Wednesday, Bank Negara Malaysia announced the Malaysian economy was badly hit in the fourth quarter of 2019 (4Q19) as it grew by 3.6%, the lowest level since the third quarter of 2009.

Bank Negara governor Datuk Nor Shamsiah Mohd Yunus said that the central bank has ample policy ammunition to deal with the growth slowdown as she expects further sluggishness to be felt in 1Q20 due to Covid-19.