Tengku Datuk Seri Zafrul Abdul Aziz says more importantly, there is sufficient domestic liquidity to support any additional fiscal stimulus to support lives, livelihoods and businesses, if necessary.
As the world navigates COVID-19, one of history’s worst pandemics, Governments globally have committed approximately USD11.7 trillion in economic stimulus measures to protect lives and livelihoods.
The Government of Malaysia has also responded swiftly in addressing the COVID-19 crisis through four stimulus packages worth RM305 billion (USD75 billion) in 2020 to help our people and businesses.
Further supporting our road to recovery are the measures outlined in Budget 2021 valued at RM322.5 billion; structural reforms to be announced in 12th Malaysia Plan, as well Malaysia’s track record of economic resiliency.
Nonetheless, despite firm COVID-19 containment measures, the number of infections in Malaysia has been on the rise, with daily infections rising to its highest level at 3,027 cases on 7 January 2021, and average daily infections hovering above 2,000 cases.
Although Malaysia’s case-fatality ratio which, at 0.4%, is within the lowest 10% globally, the rising daily cases of infections has caused a strain on the nation’s public healthcare system.
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