Article Related To stimulus-packages

Various measures taken by the government in implementing the stimulus packages and reopening the economic sector in phases have reduced the significant impact of the COVID-19 pandemic crisis.

The government will continue to prioritise the Bumiputera economic empowerment agenda by providing various stimulus packages and recovery plans to assist them to survive and be competitive.

Tengku Zafrul said the government had implemented proactive and immediate measures to address the COVID-19 crisis.

Social Security Organisation (Socso) has successfully disbursed more than RM18 billion in wage subsidies, job search allowances and hiring incentives through seven stimulus packages as of today.

Tengku Zafrul said the government had provided an allocation of more than RM200 million for the Food Basket assistance programme.

The government still has fiscal space, though limited, to fund economic stimulus packages to continue helping the people, Tan Sri Muhyiddin Yassin said.

The growth prospects of the SMEs are expected to recover gradually in 2021 in line with the overall economic growth forecast, said Prime Minister Tan Sri Muhyiddin Yassin.

The government has revised the deficit target to six per cent from 5.4 per cent of Gross Domestic Product (GDP) for 2021, having factored in continuing measures from 2020 economic stimulus packages.

Only four per cent of the RM1.7 billion allocated for the digital sector through four economic stimulus packages has been utilised, said Datuk Seri Mustapa Mohamed.

The decision was made based on the improvements in the market supported by global vaccination programmes and stimulus packages in key economies.

Muhyiddin said the govt implemented various economic stimulus packages to ease the people's burden and ensure business continuity.

The poll comes at a critical time for governments as they plan stimulus packages to recover from the COVID-19 slump.

Muhyiddin said these economic stimulus packages involved RM55 billion in fiscal injections by the government.

Since the onset of the COVID-19 pandemic early last year, the Government has implemented four economic stimulus packages worth RM305 billion, equivalent to more than 20 percent of GDP.

The government is ready to consider a strategic fiscal injection if the current economic situation warrants it, like the previous economic stimulus packages, said Tan Sri Muhyiddin Yassin.

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