Malaysia Unveils US$8.2 Billion Package to Save Jobs Amid Coronavirus Recession

Malaysia’s Prime Minister Muhyiddin Yassin on Friday unveiled a fresh 35 billion ringgit (US$8.2 billion) stimulus package to fend off job losses caused by the coronavirus recession, adding to measures rolled out earlier in the year worth over US$61 billion.
In a televised address, Muhyiddin refrained from directly addressing heated chatter about defections from his fragile administration to the former ruling coalition led by Mahathir Mohamad, but said trade conflicts and political unrest around the world were worsening global economic conditions.
The new measures – which include 10 billion ringgit of direct fiscal spending – will fund 40 initiatives to help businesses across various sectors as well as put cash in the hands of citizens.Read More…