Malaysia Announces USD 9.7 Billion Stimulus Package Ahead of Nationwide Lockdown; Specific Sectors to Operate 

As a nationwide lockdown is being imposed from the 1st of June 2021 to the 14th of June 2021 (MCO 3.0) to curb the spread of COVID-19, Prime Minister of Malaysia, Muhyiddin Yassin, announced an additional MYR 40 billion (USD 9.7 billion) stimulus package. In his televised address, Prime Minister Yassin said that the package includes an MYR 5 billion fiscal injection.

Why it Matters?

The Ministry of Finance stated that while it was critical that COVID-19 is contained efficiently, there is also a need to prevent any disruption to the manufacturing value chain that could threaten the continued production of goods and services feeding into essential industries such as food, health/medical equipment, pharmaceuticals, soap and detergents, and telecommunicat...