UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting, reviewed the recently announced measures by the Malaysian government. Key Quotes “The government announced a package of measures focused on “bolstering confidence, stimulating growth, and protecting jobs” in light of the COVID-19 outbreak. The total package is MYR 20bn (or 1.3% of GDP), of which MYR 3.0bn is additional spending from the Federal Government, MYR 3.5bn are soft loans from BNM, and MYR 12.7bn relates to the contribution from reduction in EPF employee contribution rate.” “Key measures are aimed to 1) mitigate the impact of COVID-19, 2) spur people centric growth, and 3) promote quality investments. The measures help to ease cash-flow and lower cost for affected sectors (including tourism, transport, hotels, restaurants, and retail).” “The government lowered its 2020 growth projections to 3.2% – 4.2% (from 4.8% previously). The fiscal deficit target is revised to 3.4% of GDP in 2020 (vs. 3.4% in 2019 but wider than initial target of 3.2%). We think the measures are encouraging from aspect of assistance to hardest hit sectors, affected individuals, stimulating private spending, and promoting investments.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: RBA rate cut boosts AUD, risk tepid after nothing new from G7’s coronavirus draft FX Street 2 years UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting, reviewed the recently announced measures by the Malaysian government. Key Quotes “The government announced a package of measures focused on “bolstering confidence, stimulating growth, and protecting jobs” in light of the COVID-19 outbreak. The total package is MYR 20bn (or 1.3% of GDP), of which MYR 3.0bn is additional spending from the Federal Government, MYR 3.5bn are soft loans from BNM, and MYR 12.7bn relates to the contribution from reduction in EPF employee contribution rate.” “Key measures are aimed to 1) mitigate the impact of COVID-19, 2) spur people… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.