1. I wish to officially put on record our appreciation to the doctors, nurses, health workers, Immigration and other front liners protecting Malaysia from the COVID-19 outbreak. The COVID-19 outbreak has been well2. Eventhough COVID-19 has been well contained, the disease has a significant impact on the global economy and Malaysia.
9. All banks are required to provide financial relief in the form of payment moratorium comprising restructuring and rescheduling loans for affected businesses and individuals. BNM is tasked to ensure that all financial institutions will assist all companies in need without exception. allowance of RM400 for medical doctors and other medical personnel, as well as RM200 for immigration and related front line staff commencing February 2020 until the end of pandemic.
Malaysian will be eligible to digital vouchers for domestic tourism of up to RM100 per person for domestic flights, rails and hotel accommodations for all Malaysians. Additional matching grants fortourism promotion; andmitigating the reduced demand.19. The effects of COVID-19 reverberate beyond the tourism industry. Malaysian businesses, especially exporters are affected by supply chain disruptions involving factories and ports in China.
23. The projects need to be implemented expeditiously in order to give positive impacts in stimulating economy. To expedite the implementation of all projects, the Ministry of Finance will provide special relaxation on financial procedures for the year 2020 as follows:Increase procurement threshold value for balloting from RM50,000 to RM100,000 and for quotationsEnsure Ministries channel sufficient allocations to respective implementing agencies by first quarter of 2020.
Malaysia’s quarterly Gross Domestic Product growth down from 7.1% in the third quarter of 2002 to 4.6% in the same quarter a year later. However, as a result of the comprehensive economic stimulus package, Malaysian economy recovered to 6.5% in fourth quarter of 2003. Insya-ALLAH, the 2020 economic stimulus package will be as28. Due to the global economic scenario and COVID-19 impact, Malaysia’s GDP growth in 2020 is estimated to be in the range of 3.2% to 4.2%.
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