Economic Stimulus Package Malaysia 2020

The rm250 billion package is expected to ease the burden of the rakyat and the business community.

Economic stimulus package malaysia 2020. The prihatin economic stimulus package esp was unveiled by the prime minister on 27 march 2020. Since the esp1 malaysia recorded over 2 000 positive cases and 24 deaths due to covid 19 and is presently under a movement control order mco since 18 march 2020. Kita prihatin malaysia economic stimulus package 2020.

I believe the economic stimulus package will enable the malaysian economy to achieve the highest point of the range. On 23 september 2020 the malaysian government announced the rm10 billion prihatin supplementary initiative package kita prihatin in line with its effort to boost economic recovery. The package is anchored on 3 strategies namely mitigating the impact of covid 19 spurring rakyat centric economic growth and promoting quality investment.

To offset the impact of the covid 19 to encourage more quality investments into the country. Of six 6 months from 1 april 2020 to 30 september 2020 a special discount of 15 on monthly electricity bills will be given to six categories of businesses namely hotel operators travel agencies local airlines offices shopping malls convention centres. To mitigate the impact of covid 19 and the mco the government introduced the prihatin rakyat economic stimulus package or prihatin an enhancement to the economic stimulus package announced on 27thfebruary 2020.

Insya allah the 2020 economic stimulus package will be as successful. Economic stimulus package esp 2020 the interim prime minister tun dr mahathir mohamad unveiled a strategic economic package worth rm 20 billion on 27 february 2020. Due to the global economic scenario and covid 19 impact malaysia s gdp growth in 2020 is estimated to be in the range of 3 2 to 4 2.

In comparison the 2020 package is expected to increase the fiscal deficit by 0 2 percentage point to 3 4. To mitigate the impact on the malaysian economy the economic stimulus package 2020 is meant to target three core areas. It is not surprising that the esp2 came exactly one month after the first economic stimulus package 2020 esp1 valued at rm20 billion was announced on 27 february 2020.