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PM Muhyiddin unveils RM35 billion package to regenerate Malaysia's economy

Jun 05, 2020 | 🚀 Fathership
KUALA LUMPUR: Malaysia has announced an economic package worth RM35 billion on Friday to regenerate the national economy as it recovers from the impact of COVID-19.

Prime Minister Muhyiddin Yassin said in a televised address that the package, dubbed the National Economic Revitalisation Plan, encompasses 40 initiatives to speed up the development of the national economy.

On Mar 27, Mr Muhyiddin announced an economic stimulus package worth RM250 billion, comprising special allowances for healthcare providers, one-off cash aid and microcredit scheme for small- and medium-size enterprises, among others.

In his latest address, Mr Muhyiddin said: "I want to be honest with you ladies and gentlemen about the economic position of our country. Like other countries, Malaysia is also facing a tough challenge."

RM9 BILLION TO BENEFIT 3 MILLION WORKERS. To help tackle rising unemployment, Mr Muhyiddin said that the government will allocate RM9 billion on various initiatives expected to benefit 3 million workers.