RM250 BILLION Stimulus Package

Putrajaya to unveil biggest stimulus package ever

frightening scenario billions in livelihoods, businesses will be wiped out

stimulus package will be “more than 10 times” amount announced by Dr M

administration thrust into managing country’s biggest crisis since independence

Economists gloomy predictions on economic toll 
MCO forcing millions of Malaysians to stay home

spike in unemployment, catastrophic for SMEs affected by MCO

2.4 million people will be jobless by end of crisis

mostly non-salaried jobs, unskilled workers 2/3 of the figure

Muhyiddin promised comprehensive economic stimulus package 
for all sectors, e-hailing drivers, farmers, hawkers, restaurant owners
“No one will be left behind,” he said in a speech telecast live

stimulus package will be “astronomical”

fishermen, farmers, taxi drivers, disabled, SMEs - something for everyone

total amount “almost double” Singapore
Spore set aside S$54.4 billion (RM163 billion) 

around RM250 billion

almost 1/5 the GDP 

understood that half the amount will go towards public welfare

bulk of remainder going towards businesses

On Feb 27, Dr M announced RM20 billion stimulus package 

15% discount on electricity for airlineS and malls

slashing workers’ contribution to epf from 11% to 7%

need for package that comprehensively addresses havoc which virus has wreaked 

call for focus on easing cash flow, LOWER operating costs of SMEs 

help employers maintain their workforce

govt provide wage subsidies 70% to employers for six months 

UK would cover 80% lost wages up to £2,500 a month

Singapore offsetting 25% of wages for every local worker up to S$4,600

My comments :  Please keep an eye on food supplies and food prices. 

Pumping money without removing disruptions to food supplies will create massive price inflation.