Hanoi (VNA) - Malaysia expects its fiscal deficit to widen to 4 percent of gross domestic product (GDP) this year because of the 58 billion USD stimulus measures announced to counter the impact of the coronavirus pandemic on the economy.

In an interview with state news agency Bernama last weekend, Finance Minister Tengku Zafrul Tengku Abdul Aziz said Malaysia’s fiscal deficit for 2020 would increase from 3.2 percent in 2019 to 4 percent this year.

Last week, Prime Minister Muhyiddin Yassin said his government would roll out a 250 billion ringgit (58 billion USD) economic stimulus package.

Of this amount, about 100 billion ringgit will be used to help businesses – mostly small and medium enterprises (SMEs) – while a further 128 billion ringgit will be allocated to public welfare.

The stimulus amount works out to be about 17 percent of the country’s GDP and includes measures worth 20 billion ringgit announced last month by the previous government./.