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2 0 obj /Lang (en-US) Economic Stimulus Package 2020 “Bolstering Confidence, Stimulating Growth & Protecting Jobs” Anand Chelliah Managing Partner & Asia Pacific Leader, Tax Services Malaysia recorded economic growth of 4.3% in 2019, its weakest since 2009. Since the ESP1, Malaysia recorded over 2,000 positive cases and 24 deaths due to Covid-19 and is presently under a movement control order (MCO) since 18 March 2020. /F1 12 0 R The PRIHATIN Economic Stimulus Package (ESP) was unveiled by The Prime Minister on 27 March 2020. Economic Stimulus Package (“ESP”) 2020 The interim Prime Minister, Tun Dr Mahathir Mohamad, unveiled a strategic economic package worth RM 20 billion on 27 February 2020. 3. Also, Covid-19 outbreak is reported in almost every country around It is not surprising that the ESP2 came exactly one month after the First Economic Stimulus Package 2020 (ESP1), valued at RM20 billion, was announced on 27 February 2020. /GS26 21 0 R 606 0 obj <>/Encrypt 580 0 R/Filter/FlateDecode/ID[<37C74249D3C5E94CA0A8D9A2DB579C78><25AE3F5F0B6E9E409A3236E78C600991>]/Index[579 47]/Info 578 0 R/Length 118/Prev 586718/Root 581 0 R/Size 626/Type/XRef/W[1 3 1]>>stream MEASURE 13: GOVERNMENT USE OF HOTELS 19. endstream endobj startxref /MediaBox [0 0 960 540] /Image31 17 0 R on 18 March 2020, the economy has significantly slowed down and Malaysia is in the midst of what could possibly be the biggest economic crisis since its independence. The ESP focuses on strategies to mitigate the impact of COVID-19, spur rakyat-centric economic growth, and promote quality ... For persons entering Malaysia, via international airports, the Government has proposed the It acts as the central … ECONOMIC STIMULUS PACKAGE 2020 ... provided to Tourism Malaysia, over and above the existing Visit Malaysia Year 2020 tourism promotion allocation of RM90 million. /Marked true %���� Insya-Allah, the 2020 economic stimulus package will be as successful. >> The stimulus package was introduced to ensure Malaysia’s economy will weather a further anticipated slowdown as a result of the global spread of the Covid-19 virus. %PDF-1.6 %���� >> 4 0 obj /Pattern /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] The RM250 billion Package is expected to ease the burden of the rakyat and the business community. ECONOMIC STIMULUS PACKAGE 2020 ... provided to Tourism Malaysia, over and above the existing Visit Malaysia Year 2020 tourism promotion allocation of RM90 million. 0 << /Kids [4 0 R 5 0 R 6 0 R 7 0 R 8 0 R 9 0 R 10 0 R] B. /Group Allocations under [PRIHATIN Economic Stimulus Package] 27 March 2020. << /Image9 14 0 R M�:�e�V�zE��%�u��s�p�����') >> %%EOF This page is also available in: Melayu (Malay) 简体中文 (Chinese (Simplified)) Summary of Economic Stimulus Package 2020 in Malaysia. The second package brings total support to $189 billion, comprising the first stimulus package, the Reserve Bank’s initiatives, already-announced Federal Government measures to deliver easier access to finance and $66 ... stimulus payment in July 2020 will also assist other lower income Australians in bridging this period of financial difficulty. /Font >> between April 2020 and December 2020, capped at RM 1,500 for each member. This is the 4th stimulus package announced by the Malaysian government (see related State Acts). /Contents 25 0 R PUTRAJAYA: The following is the full speech text of the 2020 Economic Stimulus Package, as announced by Interim Prime Minister Tun Dr Mahathir Mohamad today. endobj /GS13 22 0 R 25 0 obj The PRIHATIN package will provide immediate assistance to lessen the burden of all, especially those who are affected during the COVID-19 pandemics. /ExtGState Singapore’s stimulus package totaled USD4.6billion, whilst Indonesia unveiled a package of around USD742m. Read in Chinese Version Goal # 1 – Protect the people. /Type /Page << << 579 0 obj <> endobj /Type /Group /Image37 20 0 R •Electricity bill discounts ranging from 15% to 50% for all sectors for a period of 6 months, i.e. from April to September 2020 o 50%: Below 200 kWH o 25%: 201 kWH-300 kWH o 15%: 301 kWH- 600 kWH •Free internet for all users from 1 April 2020 up to end of MCO. On 27 March 2020, Prime Minister Muhyiddin Yassin has announced an economic stimulus package known as “caring package” valued at RM250 billion that will benefit all the Malaysians. << Second Economic Stimulus Package 2020 Executive Summary As the COVID-19 crisis continues to plague the world and affect Malaysia’s economy, Malaysia’s Prime Minister has announced a Second Economic Stimulus Package amounting to RM250 billion in order to combat the ongoing challenges brought about by the COVID-19 pandemic. Further to the Economic Stimulus Package 2020 announcement made on 27 February 2020, kindly be informed that Bursa Malaysia will grant the following fee waivers to encourage growth in fund-raising activities through listings on Bursa Malaysia. /Tabs /S >> Malaysia; 2020 stimulus: Dr M says EPF rate cut to 7pc, RM150 more cash handouts under BSH. Economic Stimulus Package The Government has realised the danger for the economy and approved the 2020 ESP. However, as a result of the comprehensive economic stimulus package, Malaysian economy recovered to 6.5% in the fourth quarter of 2003. Stimulus packages can involve government guarantees, delayed revenues (tax payments or licence fees) as well as policies to stimulate the market and unutilised “money” in the banking system. Of the total amount, almost RM128 billion is channelled to protecting the welfare Malaysia ranked third in the region in the Global Health Security Index of 2019, after only Thailand and South Korea, but well ahead of Singapore and Japan. >> 2003. China. �f�V�]�(��D���҆゠����:�'>:~�b�'�,���h��w Bm��/��K��� �Q��`>��ؠ��9�_L���4�j�o}���'��ojJM8޳�P���q����� �צ��dp?�"��e��jDm.�0S_Ih���T ���)�ˇڋBZ�Hd��D�&��=���%�C��F���j�C6��]:���Is��H� The PRIHATIN Package is an extension of the: (a) Economic Stimulus Package (February ESP) announced by the then Prime Minister of Malaysia, Tun Dr Mahathir, on 27 February 2020; and (b) additional measures for the Economic Stimulus Package announced by the Prime Minister of Malaysia on 16 March 2020 and 23 March 2020 (Additional Measures). MALAYSIA’S ECONOMIC STIMULUS PACKAGE INTRODUCTION The Malaysian Government has announced the following economic stimulus packages to mitigate the impact of COVID-19 outbreak and the mandatory Movement Control Order (MCO) implemented on 18 March 2020:- i) the Economic Stimulus Package 2020 announced by Yang Amat The 2020 Economic Stimulus Package is targeted to aid the Rakyat and business SME Corporation Malaysia (SME Corp. Malaysia) is a Central Coordinating Agency under the Ministry of International Trade and Industry Malaysia that formulates overall policies and strategies for Small and Medium Enterprises (SMEs) and coordinates the implementation of SME development programmes across all related Ministries and Agencies. o;)E&z�k5�. << /Image7 15 0 R Since the ESP1, Malaysia recorded over 2,000 positive cases and 24 deaths due to Covid-19 and is presently under a movement control order (MCO) since 18 March 2020. /F2 11 0 R /Count 7 << /StructParents 0 Announced on 23 September 2020 Kita Prihatin Malaysia Economic Stimulus Package 2020 Smart decisions. >> MEASURE 13: GOVERNMENT USE OF HOTELS 19. /Pages 2 0 R The health-wise government is quite confident by the efficient application of this package. /CS /DeviceRGB Currently, Circular PB 3.1 “Garis Panduan Langkah-langkah Mengoptimumkan /Filter /FlateDecode /Image27 13 0 R At that time, the budget deficit increased from 4.8% to 7.6%. endobj Economic Stimulus Package 2020 (ESP) The ESP has been announced by Tun Dr. Mahathir Mohamad on 27 February 2020. 28. /S /Transparency << /XObject /Parent 2 0 R /Resources /Image33 18 0 R >> KUALA LUMPUR: Malaysia has announced an economic stimulus package worth RM250 billion (US$58 billion) on Friday (Mar 27) to weather the impact of COVID-19. >> It was announced by the Interim }��掑. 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%. Being Malaysia’s largest trading partner, major export market and source of millions of international tourists, China with its travails indirectly impacted Malaysia’s economic growth which had been bearish since mid-January 2020. << In comparison, the 2020 package is expected to increase the fiscal deficit by 0.2 percentage point, to … The package is anchored on 3 strategies, namely mitigating the impact of Covid-19, spurring rakyat-centric economic growth and promoting quality investment . the Prihatin Rakyat Economic Stimulus Package or PRIHATIN, an enhancement to the Economic Stimulus Package announced on 27 th February 2020. /P17 24 0 R >> I believe, the economic stimulus package will enable the Malaysian economy to achieve the highest point of the range. 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