Malaysia announces $8.2 Billion in Additional Stimulus
Saturday, 06 06 2020, Category: Insurance and Reinsurance, Country: Asia
Malaysia unveiled 35 billion ringgit ($8.2 billion) in additional stimulus to help the economy recover from the coronavirus pandemic.
The new plan, which follows a late-March stimulus package worth nearly $60 billion, includes 10 billion ringgit in direct fiscal injection to the economy, Prime Minister Muhyiddin Yassin said in a speech Friday.
The announcement comes as countries across Southeast Asia and around the world struggle back to their feet after lockdowns and restrictions brought commerce to a halt. Governments across the region have rolled out economic support to shield consumers and businesses from the worst of the blow, while central banks including Malaysia’s have lowered interest rates and taken steps to keep liquidity flowing.