It must take place due to heightened economic uncertainties, economist says.
The political uncertainty that had wreaked havoc in the country over the weekend has now calmed down after Dr Mahathir Mohamad was appointed interim prime minister yesterday.
"We believe that the details of the stimulus package had been ironed out before the political havoc took place. From the economic perspective, we believe that Mahathir knows the importance of the package to boost the economy. "This will have an impact on the aggregate demand which if left unattended would perpetuate the economic slowdown," he said.
Last month, Bank Negara unexpectedly cut the OPR by 25 basis points to 2.75 percent, the lowest since March 2011, and said there is still room for another cut to boost economic growth. Malaysia is not the only Asean nation planing for a stimulus package to address the Covid-19 crisis. Thailand is proposing a new economic stimulus package to the cabinet in mid-March, hoping it will immediately catapult the momentum to boost the economy in April.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysts expect delay in announcement of Covid-19 stimulus package | Malay MailKUALA LUMPUR, Feb 25 — Political uncertainty that had wreaked havoc in the country over the weekend has now calmed down after Tun Dr Mahathir Mohamad was appointed as the interim Prime Minister yesterday. However, with the ongoing political situation, businesses are concerned if the...
Read more »
Stimulus package must go ahead, say analystsNSTbusiness: 'We believe that the details of the stimulus package had been ironed out before the political havoc took place. From the economic perspective, we believe that Dr MahathirMohamad knows the importance of the package to boost the economy.
Read more »
Stimulus package unlikely to be announced on Thursday, says Kian Ming | The Malaysian InsightThere is no longer a cabinet to approve ad hoc spending bill, says former deputy minister
Read more »
RAM Ratings maintains stable outlook on Malaysian power sector | The Malaysian InsightThe analyst firm says power-producing firms continue to show healthy operational and financial profiles.
Read more »
Sabah to announce special economic package to boost tourism after Covid-19 outbreakKOTA KINABALU: Sabah will announce a special economic package this week to help stimulate its tourism sector, which has been badly hit by the Covid-19 outbreak.
Read more »
Pakatan govt automatically dissolved once PM resigned, say analysts | Malay MailKUALA LUMPUR, Feb 24 — The Pakatan Harapan government automatically dissolved the moment Tun Dr Mahathir resigned as prime minister, political analysts said. Prof Dr Ahmad Atory Hussain said the common practice under a democratic system when a prime minister relinquishes his post is that the...
Read more »