Slow spending of Covid-19 cash aid could slow economic recovery | The Malaysian Insight

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Slow spending of Covid-19 cash aid could slow economic recovery

The Statistics Department has urged the public to spend the cash aid provided by the government in the Covid-19 economic stimulus package as it will help the economy recover. – The Malaysian Insight pic by Irwan Majid, April 7, 2020.

PEOPLE holding on to the cash aid provided by the government under the Covid-19 economic stimulus packages and delaying their spending will only slow down the process of economic recovery, said the Statistics Department. This is because household spending, which is a key component of economic growth, is expected to decline by 48% during the movement-control order .

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