Analysts expect delay in announcement of Covid-19 stimulus package
Tuesday, 25 Feb 2020 02:32 PM MYTKUALA LUMPUR, Feb 25 — Political uncertainty that had wreaked havoc in the country over the weekend has now calmed down after Tun Dr Mahathir Mohamad was appointed as the interim Prime Minister yesterday.
“We believe that the details of the stimulus package had been ironed out before the political havoc took place. From the economic perspective, we believe that Dr Mahathir knows the importance of the package to boost the economy. “This will have an impact on the aggregate demand which if left unattended would perpetuate the economic slowdown,” he said.
Last month, Bank Negara Malaysia unexpectedly cut the OPR by 25 basis points to 2.75 per cent, the lowest since March 2011, and said there is still room for another cut to boost economic growth. Malaysia is not the only Asean nation planing for a stimulus package to address the Covid-19 crisis. Thailand is proposing a new economic stimulus package to the cabinet in mid-March, hoping it will immediately catapult the momentum to boost the economy in April.
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