Interim Prime Minister of Malaysia, Dr Mahathir Mohamad has announced a RM20 billion economic stimulus package earlier today.
The purpose fo the stimulus is to combat the worsening economic conditions that’s taking place as a result to the COVID-19 outbreak.
In addition to the stimulus, Bank Negara Malaysia will provide special credit guarantees of RM2 billion for SMEs at 3.75% interest to further boost the economy.
MAlaysia Airports will also reduce the rental of it’s retail space at the airport, as well as reducing landing and parking charges to catalyze an increase in in-bound travel.
This comes at a time where many are doubtful of the Malaysian economy, after a shakedown in the government a few days earlier.