GEORGE TOWN: The Malaysian economy is already in recession, according to former finance minister Lim Guan Eng (pix). Lim, who is DAP secretary-general...
The Malaysian economy is already in recession, according to former finance minister Lim Guan EngLim, who is DAP secretary-general, said the decision by Bank Negara Malaysia to lower the overnight policy rate by 25 basis points to a record low of 1.75% was clearly an attempt to mitigate the impact of the slowdown caused by the Covid-19 pandemic.
Lim said this also showed that the RM35 billion stimulus package, which has already exceeded this year’s national Budget, has failed to salvage jobs and businesses.
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