Malaysian Prime Minister Muhyddin Yassin (Photo:Bernama pic) Kuala Lumpur (VNA) – Malaysian Prime Minister Muhyddin Yassin on June 5 announced a short-term economic recovery plan worth 35 billion RM (8.2 billion USD), to help the country’s economy recover from the impact of the COVID-19 pandemic.
The plan, including 40 initiatives, mainly focuses on how to empower people, propel businesses and stimulate the economy.
Accordingly, the plan will give priority to supporting workers and small and medium-sized enterprises (SMEs) through training programmes, social support, financing schemes, boosting domestic consumption and supporting industries impacted by the outbreak and the movement control order (MCO).
This is the government’s third stimulus package to cushion the impact of the disease and its lockdown measures.
Muhyddin previously announced a 250-billion-RM (nearly 60 billion USD) financial support package to help local businesses promote production and business, stimulate consumption demand, and ensure social welfare for people.
On April 6, Malaysia approved an additional incentive package for SMEs worth 10 billion RM (2.3 billion USD).
The Malaysian Ministry of Health announced on the same day that the country recorded 19 more COVID-19 cases and one death, bringing the total of infections and fatalities to 8,266 cases and 16, respectively./.
VNA
