Malaysia Announces New Stimulus Package Worth MYR 15 Billion Following Third Wave of COVID-19

A new economic aid package worth MYR 15 billion (USD 3.7 billion) was announced by the Malaysian Prime Minister, Muhyiddin Yassin, on the 18th of January 2021, to assist in mitigating the impacts of COVID-19.

Speaking at a televised address to the nation, Muhyiddin stated that 22 initiatives would be implemented under the new Malaysian Economic and Rakyat Protection Assistance Package (PERMAI), based on three core objectives.

The first objective of combating COVID-19 will include the implementation of a nation-wide COVID-19 vaccination programme, collaborations with private hospitals, and hiring of more workers to strengthen the healthcare system. The second objective focuses on protecting people’s welfare, which includes extension of the loan moratorium and loa...