Stimulus package supports growth

Photo: RAJA FAISAL HISHAN/The Star

THE PAS Central Economic, Real Estate and Entrepreneur Development Committee welcomes the recent 2020 Economic Stimulus Package announced by the previous Federal government, worth some RM20bil. We note that the quantum reflects the RM19bil to RM21bil we had estimated would be required to maintain the country’s gross domestic product (GDP) rate at 4.8% in our statement from Feb 13.

In general, the package contains elements that are capable of stimulating domestic demand through supportive measures for both industry and consumer alike, in particular the retail and hospitality sectors. Should it be implemented effectively with the appropriate care, we are confident that the projected GDP growth of 4.8% is still achievable.