Fiscal Policy In Malaysia 2020

March 5 2020 at 9 40 a m.

Fiscal policy in malaysia 2020. It is time for an expansionary fiscal policy to safeguard the people and the economy that have been affected by the covid 19 pandemic finance minister tengku datuk seri zafrul abdul aziz said today. Every country is injecting money into their economies in facing this unprecedented challenge brought about by the pandemic. Malaysia is not isolated in this predicament. Fiscal monetary and regulatory support in a number of major economies will help to mitigate the economic fallout but is unlikely to change this weak outlook.

The government is expected to spend up to rm15 billion via a fiscal stimulus package to stimulate malaysia s economy and mitigate any adverse repercussions from the coronavirus covid 19 outbreak and other external uncertainties. At its 10 september meeting the monetary policy committee of bank negara malaysia bnm decided to maintain the overnight policy rate at its all time low of 1 75 amid divided market analysts expectations. Five things fiscal policy could do to fight the covid 19 outbreak published. The recovery in the global economy will depend on the epidemiological course of the pandemic and the efficacy of policy responses.

While the recently announced stimulus package could help to mitigate the immediate impact of the outbreak a deeper economic policy response would be needed should the health crisis deepen and result in a longer duration of economic disruption. It is time for an expansionary fiscal policy to safeguard the people and the economy that have been affected by the novel coronavirus 2019 covid 19 pandemic finance minister tengku datuk seri zafrul abdul aziz said today. The other major challenge is the limited fiscal policy space to respond to the crisis. After all the current covid 19 crisis will eventually be conquered through vigorous public health efforts but without a sufficiently large and forceful fiscal response the economic scars it leaves behind will be viciously.

Bank negara malaysia holds rate to all time low in august. In light of the emerging risks it is clear that the fiscal policy needs to go further beyond the february stimulus package in safeguarding the livelihoods of the rakyat. Every country is injecting money into its economy in facing this unprecedented challenge brought about by the outbreak he said. Malaysia widens fiscal deficit target after covid 19 stimulus measures monday 30 mar 2020 06 14 pm myt datuk seri tengku zafrul tengku abdul aziz is pictured at dewan negara after being sworn in as senator march 10 2020.