Malaysia announces additional $12.8b financial stimulus ahead of Covid-19 lockdown

KUALA LUMPUR – Malaysian Prime Minister Muhyiddin Yassin on Monday (May 31) announced an additional RM40 billion (S$12.8 billion) financial stimulus package, ahead of a total lockdown that comes into force on Tuesday.

The package includes a direct fiscal injection of RM5 billion, which will be used to enhance the public healthcare system, provide cash handouts to low-income households and fund wage subsidies.

The lockdown comes amid a third wave of infections that has strained the healthcare system and charted record-high cases and deaths.

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