The Malaysian government has announced a stimulus package worth 10 billion ringgit (approximately $2.3 billion) to support small- and medium-sized businesses suffering from the spread of the coronavirus, media reported on Monday
MOSCOW (Pakistan Point News / Sputnik - 06th April, 2020) The Malaysian government has announced a stimulus package worth 10 billion Ringgit (approximately $2.3 billion) to support small- and medium-sized businesses suffering from the spread of the coronavirus, media reported on Monday.
According to Malaysia's The Star newspaper, citing Prime Minister Muhyiddin Yassin, the funds are to be used for distributing special grants to enterprises, paying salaries to employees and other measures to support small and medium-sized enterprises, which account for 40 percent of the national economy and two-thirds of Malaysia's entire workforce.
In late March, the prime minister unveiled a stimulus package worth 250 billion ringgit to mitigate the pandemic's impact on the economy. Namely, about 128 billion ringgit was allocated to social protection programs and another 100 billion ringgit was allocated to support the country's businesses.
So far, the health authorities have registered over 3,000 confirmed cases of the coronavirus in the country, including 50 fatalities.
