COVID-19: Second Economic Stimulus Package 2020

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.

Of the RM250 billion, RM128 billion is allocated to safeguard the welfare of the people, RM100 billion to support businesses including Small and Medium Enterprises (“SME”) and RM2 billion to strengthen the country's economy. The balance amount of RM20 billion was from the First Economic Stimulus Package announced previously on 27 February 2020.

To mitigate the adverse impacts arising from this crisis, this package aims to provide immediate relief to the Malaysian people and ensure that no one will be left behind.

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