Consistent and comparable stimulus

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Malaysia's Covid-19 stimulus packages contribute more than 20% of the country’s GDP. That's comparable to other developed countries and higher than regional developing countries.

“From the context of no one left behind, the government has also been comprehensive and responsive in helping the same groups of people as in other countries,” Johan adds.

Under the business stimulus package, Laksana has found that while the Malaysian government’s efforts in supporting businesses cover several different key areas, the initiatives offered are almost similar to those in other countries, such as loan moratorium, targeted repayment assistance and SME grants.

As for the people’s worry that the stimulus packages will not be sustainable if the health crisis prolongs, Johan stresses that the main objective is to open up our economy as soon as possible. “The key message from government is that there’s light at the end of the tunnel, particularly as we are progressing strongly in our vaccination programme. From the experience of other countries, once we achieve high level of vaccinations, it will certainly support lower risk of infection, and that, with the continued compliance to SOPs will facilitate a more open economy.”

It is also an area with a lot of potential, adds Johan: “We already have a successful example – we are among the leading manufacturers of solar panels in the world. “We would like to believe that the approach the Malaysian government has taken so far shows that it is not only proactive in responding to any situation that arises, but also innovative in terms of its approach in helping the target groups.

 

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