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PM announces RM250b stimulus package

27 Mar 2020 / 15:45 H.

KUALA LUMPUR: Prime Minister Tan Sri Muhyiddin Yassin today announced a RM250 billion injection with the objective of protecting the people, supporting businesses and strengthening the economy to weather the effects of the Covid-19 pandemic.

The amount includes a fiscal injection of RM22 billion, government guarantees totalling RM55 billion and other initiatives involving more than RM153 billion.

Of the total -- which includes the RM20 billion package announced previously -- the government will channel almost RM128 billion towards safeguarding the people’s welfare, RM100 billion to support businesses including the small and medium enterprises and RM2 billion to strengthen the country’s economy.

In his speech, the prime minister said the government’s priority at this time is to curb the spread of Covid-19. -Bernama

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