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Malaysian Government’s financial relief package to help contain financial market shocks
Unlike previous crises, the COVID-19 outbreak has caused not just unprecedented economic damage, but also massive disruptions to daily lives. The IMF has already declared a recession for many economies.
The Government of Malaysia’s recently announced RM250 billion (US$57.52 billion) Prihatin Rakyat relief package is aimed at supporting growth and extending much-needed support to the domestic economy’s liquidity, consumption and employment. This, together with earlier initiatives, will provide some respite to the market and the general population.