MALAYSIA's Prihatin Rakyat Economic Stimulus Package (PRIHATIN) is among the largest in the world, according to Minister in the Prime Minister’s Department (Economy), Datuk Seri Mustapa Mohamed.
“When compared to the nation’s gross domestic product, it is about 17%, whereas the United Kingdom’s is 16%, United States’ is 11% and Singapore’s is 11%,” he said.
The considerable amount, he said, also showed the government’s seriousness in mitigating the adverse situation caused by Covid-19.
Speaking as a guest in a programme, ‘Bicara Naratif’, hosted by RTM, he touched on the two stimulus packages launched by the government, the first being RM20 bil, on Feb 27 and the second, of RM230 bil, on March 27.
Added together, the packages total RM250 bil, he pointed out.
“I will summarise that there are three sources - first is the government second, the Employees Provident Fund (EPF) and third, the banks,” he said.
He said RM25 bil comes from the government, RM50 bil from EPF, and RM175 bil from the banks.
An unprecedented crisis like the Covid-19 pandemic, Mustapa said warranted concerted action, and therefore it was incumbent upon the sources to work together.
“We are all in this together,” he said, acknowledging the role played by other organisations such as the Social Security Organisation (Socso). - March 29, 2020, Bernama