Malaysia announces new economic stimulus package worth 9.7 billion USD
Malaysian Prime Minister Muhyiddin Yassin on May 31 unveiled a new economic stimulus package worth 40 billion RM (9.7 billion USD) in an attempt to mitigate the impacts of the new total lockdown.
Disinfecting a cemetery in Semenyih, Selangor, where the bodies of COVID-19 patients are buried (Photo: Xinhua/VNA)
Kuala Lumpur (VNA) - Malaysian Prime Minister Muhyiddin Yassin on May31 unveiled a new economic stimulus package worth 40 billion RM (9.7 billionUSD) in an attempt to mitigate the impacts of the new total lockdown.
Speaking at a televised national address, Muhyiddin said thepackage, named Strategic Programme to Empower the People and Economy Plus, willaim to increase the capacity of public hospitals to treat COVID-19 patients, tosupport continuity of businesses and to help the people.
According to him, the total lockdown from June 1-14 willhave a huge impact on the nation's economy and the lives of the public.
He said that 450 million RM (9.66 billion USD) will be used to increase thecapacity of beds in intensive care units and equipment for COVID-19 treatment,while 550 million RM will be allocated to cover the expenses related toincreasing operation and management costs in dealing with the health crisis.
On extending help to Malaysians directly, he said 2.1billion RM will be distributed to lower-income households earning less than5,000 RM per month.
In addition, he said that an optional loan moratorium will be offered to thebottom 40 percent group and people who have lost their jobs, as well asmicro-entrepreneurs and small and medium enterprises (SMEs) which are not ableto operate during the movement control order (MCO).
He also announced a 500 RM one-off special cash aid for17,000 tour guides, 40,000 taxi drivers, 11,000 school bus drivers, 4,000express bus drivers as well as 62,000 e-hailing drivers.
Since the COVID-19 outbreak, the government has carried outa lot of support and economic stimulus packages with a total capital of 340billion RM, benefiting around 20 million households and over 2 millionbusinesses./.
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Disinfecting a cemetery in Semenyih, Selangor, where the bodies of COVID-19 patients are buried (Photo: Xinhua/VNA) 
