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The coronavirus (Covid-19) outbreak, which has been declared a pandemic, has resulted in considerable economic disruption and human suffering.
To combat the economic fallout from the coronavirus outbreak, Malaysia has unveiled a landmark comprehensive rescue plan worth a total of RM250bil, that’s almost one-fifth of the country’s gross domestic product (GDP). It is the largest-ever stimulus package for the country.
Stimulus package targeted at reducing people’s burden
WE will see today the government announce its largest ever stimulus package. The sum, which judging by the RM100bil loan moratorium and other previous announcements, will be a huge headline number but that is no different than what other countries have proposed.
PETALING JAYA: The government’s second economic stimulus package, which will be unveiled today, is expected to introduce more comprehensive measures to respond to the novel coronavirus (Covid-19) induced economic slowdown.
PETALING JAYA: The economic impact of Covid-19 and the movement control order (MCO) is expected to shrink Malaysia’s real gross domestic product (GDP) growth to -2.9% for 2020, relative to 2019, says the Malaysian Institute of Economic Research (MIER).
Warnings of an imminent global recession have been ringing louder than before. With key economic data worldwide continuing to disappoint amid the novel coronavirus (Covid-19) outbreak, experts say the worst is yet to come.
New Finance Minister needs all the support he can get
WHILE global markets are still reeling from the spread of the novel coronavirus (Covid-19), the collapse in the oil price was like a kick in the teeth for Malaysia and the world.
IT goes without saying that the pressure is on for ex-banker and now Finance Minister (FM) Tengku Datuk Zafrul Tengku Abdul Aziz (pic), who on his first day of office said that the focus is “on the immediate challenges ahead economically”.