THE six-month period from April to September 2020 proposed by the government for the 2020 economic stimulus package is adequate, says budget director in the ministry of finance Johan Mahmood Merican.
He said some experts expect the Covid-19 outbreak to end by summer.
“We are confident the six-month period is sufficient,” he told Bernama TV’s special programme on the economic stimulus package on Thursday.
He said the economic package was announced amid the spread of Covid-19, adding the impact of the outbreak on affected companies and businesses, especially in the tourism sector, is expected to last six months.
“The Economic Stimulus Package is not unusual in Malaysia as we went through a similar experience in 2003 due to the SARS epidemic. At that time, the economic impact was felt for just one or two quarters of the year.
“What has been planned, especially in the first strategy of the package, is how we can help ease the cash flow of these companies amid the sharp decline in the number of tourists from China and other countries,” he said.
The 2020 Economic Stimulus Package worth RM20 bil was announced by interim Prime Minister Tun Dr Mahathir Mohamad on Thursday in a bid to effectively mitigate the economic risks brought by the spread of Covid-19.
At the same time, several strategies and plans will be implemented to ensure the country’s economy is on a sutainable track, including by mitigating the impact of COVID-19, catalysing people-centric growth, and encouraging quality investment. – Feb 28, 2020, Bernama
