Malaysian Economy to Receive a Second Stimulus Package worth MYR 230 Billion to Ease Pressure from COVID-19

With the increasing number of COVID-19 cases in the country, the Government of Malaysia announced an MYR 230 billion (USD 58 billion) stimulus package on the 27th of March 2020, to curb the impact of the pandemic on the country's economy.

The benefits under this stimulus package include an array of one-off measures, including financial assistance to low income earning families, unmarried individuals, students and other civil servants who are affected by the pandemic. In addition, the package also provides discounts on utility bill payments.

Meanwhile, the package has also allocated MYR 4.5 billion as a special relief to help Small and Medium Enterprises (SMEs) to stay afloat during...