Malaysia Announces Second COVID-19 Stimulus Package Amidst Two-Week Lockdown

Malaysia’s new Government introduced another financial stimulus package of around USD 230.4 million (MYR 1 billion) on the 16th of March 2020, to help Malaysians cope with the impacts of an increase in the spread of COVID-19 across the country.

According to local media, these funds would be used to provide a limited stipend for workers on unpaid leave, discounts on electricity bills, additional pay-outs for public financial aid packages, as well as for the roll-out of micro-project packages.

In February 2020, the Government launched a USD 4.7 billion stimulus package, the first to assist with the impacts of COVID-19, which included tax breaks, rental cuts, as well as measures to...