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Malaysia to roll out additional $3.7 billion stimulus measures from taxpayers' money

Christian Fernsby |
Malaysia will introduce 15 billion ringgit ($3.71 billion) worth of additional stimulus measures to support its pandemic-hit economy and fight COVID-19, Prime Minister Muhyiddin Yassin said on Monday.

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Topics: MALAYSIA   

Muhyiddin said strict curbs under the movement control order (MCO), which took effect on Wednesday, should not have as much of an impact on the economy compared to the last lockdown in March since more economic activities are allowed to continue.

“As such, the impact of the current MCO to the economy is expected to be manageable,” Muhyiddin told a televised address.

The government’s new aid measures include an additional 1 billion ringgit to fund procurement of more supplies for frontline healthcare workers, including reagents and screening kits and personal protective equipment.

Banks will also extend a moratorium on loans and restructure repayment for individuals and businesses, while the government will expedite disbursement of cash aid to low income families and individuals and broaden the scope of a wage subsidy plan for employers.

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