On 5 June 2020, the Prime Minister of Malaysia announced an RM35 billion (~USD 8.2 billion*) stimulus package titled “Pelan Jana Semula Economy Negara” or “PENJANA” to support businesses affected by the COVID-19 pandemic. /Kids [4 0 R 5 0 R 6 0 R 7 0 R 8 0 R 9 0 R 10 0 R] /Lang (en-US) Economic Stimulus Package 2020 “Bolstering Confidence, Stimulating Growth & Protecting Jobs” Anand Chelliah Managing Partner & Asia Pacific Leader, Tax Services Malaysia recorded economic growth of 4.3% in 2019, its weakest since 2009. Due to the global economic scenario and COVID-19 impact, Malaysia’s GDP growth in 2020 is estimated to be in the range of 3.2% to 4.2%. 606 0 obj <>/Encrypt 580 0 R/Filter/FlateDecode/ID[<37C74249D3C5E94CA0A8D9A2DB579C78><25AE3F5F0B6E9E409A3236E78C600991>]/Index[579 47]/Info 578 0 R/Length 118/Prev 586718/Root 581 0 R/Size 626/Type/XRef/W[1 3 1]>>stream /Count 7 The package is anchored on 3 strategies, namely mitigating the impact of Covid-19, spurring rakyat-centric economic growth and promoting quality investment . Insya-ALLAH, the 2020 economic stimulus package will be as successful. Currently, Circular PB 3.1 “Garis Panduan Langkah-langkah Mengoptimumkan after the First Economic Stimulus Package 2020 (ESP1), valued at RM20 billion, was announced on 27 February 2020. /CS /DeviceRGB /MediaBox [0 0 960 540] >> /XObject >> between April 2020 and December 2020, capped at RM 1,500 for each member. Overall this stimulus package 2020 in Malaysia or PRIHATIN package addresses many issues to reduce the burden of the public, which gets affected by the outbreak of COVID-19 both financially. /ExtGState Of the total amount, almost RM128 billion is channelled to protecting the welfare /Image37 20 0 R << /Font Malaysia; 2020 stimulus: Dr M says EPF rate cut to 7pc, RM150 more cash handouts under BSH. /GS13 22 0 R endstream endobj startxref ECONOMIC STIMULUS PACKAGE 2020 ... provided to Tourism Malaysia, over and above the existing Visit Malaysia Year 2020 tourism promotion allocation of RM90 million. �f�V�]�(��D���҆゠����:�'>:~�b�'�,���h��w Bm��/��K��� �Q��`>��ؠ��9�_L���4�j�o}���'��ojJM8޳�P���q����� �צ��dp?�"��e��jDm.�0S_Ih���T ���)�ˇڋBZ�Hd��D�&��=���%�C��F���j�C6��]:���Is��H� It acts as the central … << << o;)E&z�k5�. /GS26 21 0 R Due to the global economic scenario and COVID-19 impact, Malaysia’s GDP growth in 2020 is estimated to be in the range of 3.2% to 4.2%. It was announced by the Interim Since the ESP1, Malaysia recorded over 2,000 positive cases and 24 deaths due to Covid-19 and is presently under a movement control order (MCO) since 18 March 2020. >> stream Economic Stimulus Package The Government has realised the danger for the economy and approved the 2020 ESP. On 27 March 2020, Prime Minister Muhyiddin Yassin has announced an economic stimulus package known as “caring package” valued at RM250 billion that will benefit all the Malaysians. Insya-Allah, the 2020 economic stimulus package will be as successful. 28. /Image27 13 0 R >> /Image7 15 0 R The health-wise government is quite confident by the efficient application of this package. /P17 24 0 R China. >> The stimulus package was introduced to ensure Malaysia’s economy will weather a further anticipated slowdown as a result of the global spread of the Covid-19 virus. /Image6 16 0 R Announced on 23 September 2020 Kita Prihatin Malaysia Economic Stimulus Package 2020 Smart decisions. Economic Stimulus Package 2020 (ESP) The ESP has been announced by Tun Dr. Mahathir Mohamad on 27 February 2020. Singapore’s stimulus package totaled USD4.6billion, whilst Indonesia unveiled a package of around USD742m. This page is also available in: Melayu (Malay) 简体中文 (Chinese (Simplified)) Summary of Economic Stimulus Package 2020 in Malaysia. The PRIHATIN Package is an extension of the: (a) Economic Stimulus Package (February ESP) announced by the then Prime Minister of Malaysia, Tun Dr Mahathir, on 27 February 2020; and (b) additional measures for the Economic Stimulus Package announced by the Prime Minister of Malaysia on 16 March 2020 and 23 March 2020 (Additional Measures). •Electricity bill discounts ranging from 15% to 50% for all sectors for a period of 6 months, i.e. 4 0 obj /Tabs /S %PDF-1.5 >> /F1 12 0 R (b) Processing fee Applicable for IPO applications for listing on the ACE Market and the LEAP Market. endobj KUALA LUMPUR (March 28): The country’s much-awaited comprehensive fiscal stimulus package was unveiled last Friday, and its whopping amount of RM250 billion took many by surprise. This is the 4th stimulus package announced by the Malaysian government (see related State Acts). Since the ESP1, Malaysia recorded over 2,000 positive cases and 24 deaths due to Covid-19 and is presently under a movement control order (MCO) since 18 March 2020. /Type /Page 1 0 obj CGC Participates in 2020 Economic Stimulus Package KELANA JAYA, 27 February 2020 – Credit Guarantee Corporation Malaysia Berhad (CGC) is participating in Bank Negara Malaysia’s (BNM) RM2.0 billion Special Relief Facility (SRF) for Small and Medium Enterprises (SMEs) under the Government’s 2020 Economic Stimulus Package. 2 0 obj endobj x����n�0E������"� @^ R�@��"�B���h,�~���w(9�lKF� m�䜡������t4���uvW��#(PR)�D*��X�`Y&�/'P%��ͽ��U2@x��Y)����~. 28. In comparison, the 2020 package is expected to increase the fiscal deficit by 0.2 percentage point, to … %PDF-1.6 %���� /GS5 23 0 R >> Second Economic Stimulus Package 2020 Executive Summary As the COVID-19 crisis continues to plague the world and affect Malaysia’s economy, Malaysia’s Prime Minister has announced a Second Economic Stimulus Package amounting to RM250 billion in order to combat the ongoing challenges brought about by the COVID-19 pandemic. /Marked true Increase of special allowance increases for medical personnel from RM400 to RM600 with effect from 1 April 2020 until outbreak ends. /Image35 19 0 R << >> Last week, the government reacted and on 27 March 2020 unveiled the Second Economic Stimulus Package 2020 (the “ESP2”) entitled “Prihatin Rakyat ESP2”. Malaysia ranked third in the region in the Global Health Security Index of 2019, after only Thailand and South Korea, but well ahead of Singapore and Japan. The PRIHATIN Economic Stimulus Package (ESP) was unveiled by The Prime Minister on 27 March 2020. /StructTreeRoot 3 0 R /Resources %���� 625 0 obj <>stream /Pages 2 0 R /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] << 0 on 18 March 2020, the economy has significantly slowed down and Malaysia is in the midst of what could possibly be the biggest economic crisis since its independence. MEASURE 13: GOVERNMENT USE OF HOTELS 19. %%EOF The second package brings total support to $189 billion, comprising the first stimulus package, the Reserve Bank’s initiatives, already-announced Federal Government measures to deliver easier access to finance and $66 ... stimulus payment in July 2020 will also assist other lower income Australians in bridging this period of financial difficulty. Release of the Prihatin Rakyat Economic Stimulus Package in light of the ongoing COVID-19 outbreak in Malaysia On 6 April 2020, Prime Minister Tan Sri Muhyiddin Yassin announced the 3rd Prihatin Package worth RM10 billion. Lasting value. However, as a result of the comprehensive economic stimulus package, Malaysian economy recovered to 6.5% in the fourth quarter of 2003. Further to the Economic Stimulus Package 2020 announcement made on 27 February 2020, kindly be informed that Bursa Malaysia will grant the following fee waivers to encourage growth in fund-raising activities through listings on Bursa Malaysia. /Contents 25 0 R endobj << /StructParents 0 This SME package is in addition to the RM250 billion economic stimulus announced on 27 March 2020, /Pattern >> from April to September 2020 o 50%: Below 200 kWH o 25%: 201 kWH-300 kWH o 15%: 301 kWH- 600 kWH •Free internet for all users from 1 April 2020 up to end of MCO. I believe, the economic stimulus package will enable the Malaysian economy to achieve the highest point of the range. << Currently, Circular PB 3.1 “Garis Panduan Langkah-langkah Mengoptimumkan The ESP focuses on strategies to mitigate the impact of COVID-19, spur rakyat-centric economic growth, and promote quality ... For persons entering Malaysia, via international airports, the Government has proposed the The supplementary stimulus is critical to ensure the survival of SMEs who are the backbone of the Malaysian economy. /Length 717 Allocations under [PRIHATIN Economic Stimulus Package] 27 March 2020. B. The PRIHATIN package will provide immediate assistance to lessen the burden of all, especially those who are affected during the COVID-19 pandemics. Economic Stimulus Package (“ESP”) 2020 The interim Prime Minister, Tun Dr Mahathir Mohamad, unveiled a strategic economic package worth RM 20 billion on 27 February 2020. /F2 11 0 R ECONOMIC STIMULUS PACKAGE 2020 ... provided to Tourism Malaysia, over and above the existing Visit Malaysia Year 2020 tourism promotion allocation of RM90 million. >> M�:�e�V�zE��%�u��s�p�����') /Type /Catalog MALAYSIA’S ECONOMIC STIMULUS PACKAGE INTRODUCTION The Malaysian Government has announced the following economic stimulus packages to mitigate the impact of COVID-19 outbreak and the mandatory Movement Control Order (MCO) implemented on 18 March 2020:- i) the Economic Stimulus Package 2020 announced by Yang Amat SME Corporation Malaysia (SME Corp. Malaysia) is a Central Coordinating Agency under the Ministry of International Trade and Industry Malaysia that formulates overall policies and strategies for Small and Medium Enterprises (SMEs) and coordinates the implementation of SME development programmes across all related Ministries and Agencies. /Image31 17 0 R It is not surprising that the ESP2 came exactly one month after the First Economic Stimulus Package 2020 (ESP1), valued at RM20 billion, was announced on 27 February 2020. Called Pakej Rangsangan Ekonomi Prihatin Rakyat, or Prihatin for short, the package comprises RM128 billion to protect the welfare of the people, RM100 billion to protect the … /Image33 18 0 R /Image9 14 0 R Read in Chinese Version Goal # 1 – Protect the people. /Parent 2 0 R At that time, the budget deficit increased from 4.8% to 7.6%. KUALA LUMPUR: Malaysia has announced an economic stimulus package worth RM250 billion (US$58 billion) on Friday (Mar 27) to weather the impact of COVID-19. 2003. The RM250 billion Package is expected to ease the burden of the rakyat and the business community. h�bbd```b``����A$��4D� ���`r:�d�@��l뽎`C��`2L��M���9 2]Dځt1��i ��+X�;�1�A��?������t��������� �� Being Malaysia’s largest trading partner, major export market and source of millions of international tourists, China with its travails indirectly impacted Malaysia’s economic growth which had been bearish since mid-January 2020. MEASURE 13: GOVERNMENT USE OF HOTELS 19. /S /Transparency << 3. The 2020 Economic Stimulus Package is targeted to aid the Rakyat and business During the global financial crisis in 2009, Malaysia unveiled a stimulus package of approximately RM60 billion (over 2 years). Malaysia’s 2009 stimulus package resulted in a budget deficit increase from 4.8% to 7.6%. >> the Prihatin Rakyat Economic Stimulus Package or PRIHATIN, an enhancement to the Economic Stimulus Package announced on 27 th February 2020. << SMEs currently account for over two-thirds of the country’s total jobs and nearly 40% of the economy. /Group PUTRAJAYA: The following is the full speech text of the 2020 Economic Stimulus Package, as announced by Interim Prime Minister Tun Dr Mahathir Mohamad today. /Filter /FlateDecode Also, Covid-19 outbreak is reported in almost every country around Stimulus packages can involve government guarantees, delayed revenues (tax payments or licence fees) as well as policies to stimulate the market and unutilised “money” in the banking system. /Type /Group /MarkInfo << endstream endobj 580 0 obj <>>>/Filter/Standard/Length 128/O(�IS������ȶy7o\(:3�9g������]�&�H)/P -1340/R 4/StmF/StdCF/StrF/StdCF/U(�%:�����1��~V� )/V 4>> endobj 581 0 obj <>/Metadata 41 0 R/PageLayout/OneColumn/Pages 577 0 R/StructTreeRoot 51 0 R/Type/Catalog>> endobj 582 0 obj <>/ExtGState<>/Font<>/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 583 0 obj <>stream }��掑. /Type /Pages 25 0 obj << 579 0 obj <> endobj With effect from 1 April 2020 until outbreak ends the government has realised the danger for the economy is..., whilst Indonesia unveiled a stimulus package the government has realised the danger for the economy handouts! 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