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Malaysia unveils extra $8 billion economic stimulus package

Published 06/05/2020, 05:03 AM
Updated 06/05/2020, 05:05 AM
© Reuters. FILE PHOTO: Malaysia's Prime Minister Muhyiddin Yassin speaks during a news conference in Putrajaya

© Reuters. FILE PHOTO: Malaysia's Prime Minister Muhyiddin Yassin speaks during a news conference in Putrajaya

KUALA LUMPUR (Reuters) - Malaysia's prime minister unveiled an additional economic stimulus package worth 35 billion ringgit ($8.22 billion) on Friday in a bid to revitalise industries badly hit by the coronavirus pandemic.

Muhyiddin Yassin said in a televised address that 10 billion ringgit would be direct fiscal injection from the government. The measure comes on top of incentives worth 260 billion ringgit announced earlier.

© Reuters. FILE PHOTO: Malaysia's Prime Minister Muhyiddin Yassin speaks during a news conference in Putrajaya

($1 = 4.2570 ringgit)

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