KUALA LUMPUR - Malaysia will announce a second stimulus package as it continues to combat the economic impact of the coronavirus (Covid-19) pandemic, said Prime Minister Muhyiddin Yassin.
As reported by Reuters, Malaysia unveiled its first stimulus package, worth RM20 billion (US$4.68 billion), in February to mitigate the pandemic’s impact on industries such as tourism. The second package comes as the country’s total Covid-19 cases reach 1,796—the highest in Southeast Asia.
Mr Yassin said that the second stimulus package is “more comprehensive [and] people-oriented”, adding that all Malaysians will benefit from the package “whether you are a taxi driver, a farmer, [or] a restaurant owner”.
In addition, the Malaysian government has imposed a Movement Control Order (MCO), which has been extended until April 14, 2020, to prevent further virus spread. Schools, universities, and non-essential businesses have also been ordered to temporarily close until March 31. (MS)