The Malaysian government has agreed to review the economic stimulus package was launched by the previous government in late February.
Malaysian Prime Minister Muhyiddin Yassin (seated, centre) poses with ministers before chairing the first new cabinet meeting (Photo: Bernama)
Prime Minister Muhyiddin Yassin said the reviewed stimulus package would ensure target segments are given priority and restore investor confidence.
Speaking in a press conference after chairing his first Cabinet meeting on March 11, he said the Cabinet has agreed for the stimulus package to be re-presented and reviewed to see if the previous amount of 20 billion ringgit (4.7 billion USD) can be adjusted.
He said the Finance Minister would review the package, adding that the review would be launched in one to two weeks’ time.
The 2020 Economic Stimulus Package was announced on February 27 by former Prime Minister Mahathir Mohamad to safeguard the economy from impact of the COVID-19 outbreak.
A special fund has been launched to help ease burdens of those infected by the epidemic. Muhyiddin said the government had agreed to contribute 1 million ringgit to the fund./.