Is Malaysia really prepared for the economic fallout from Covid-19?

The extension of Malaysia’s movement control order (MCO) until April 14 is absolutely necessary given the spread of Covid-19 across the country, amounting to 2,320 cases and 27 deaths (as at March 28). While we are dealing rigorously with the outbreak by restricting people’s movement, we have still not come to terms with the grim reality of the pandemic’s impact on people’s livelihoods and the economy.

The RM250bil stimulus package announced by the Prime Minister on March 27 generally comprises loan deferments, one-off cash assistance, credit facilities and rebates as well as a direct fiscal injection of RM25bil from the government.