KUALA LUMPUR – The government has introduced a RM20 billion Economic Stimulus Package which encompasses of three strategies in ensuring that the economy risk resulted by the Covid-19 outbreak can be handled effectively.
The three strategies are; Mitigating impact of COVID-19; Spurring rakyat (people) centric economic growth; and Promoting quality investments
Tun Dr Mahathir Mohamad said, among the immediate impact on economy of the Covid-19 outbreak at the regional level was the reduction of foreign tourists.
The impact was more obvious for the hotel, flight, tourism and retail industry.
According to him, to overcome the situation, the government will take three approaches in the first strategy.
First, to facilitate cashflow for the affected businesses and second, to provide aids for the individuals affected and third, to stimulate demands in the tourism industry.
The Interim Prime Minister also announced several strategies and plan to ensure that the national economy is at the sustainable track.
He said, although the Covid-19 is under control, however, the outbreak gave a huge impact to global economy, including Malaysia. -MalaysiaGazette