BANGSAR, March 17 — A coalition purporting to represent 100 non-governmental groups, entrepreneurs and business owners urged the government today to introduce another economic stimulus package for the coronavirus disease (Covid-19) pandemic.
The coalition said the RM20 billion stimulus package Putrajaya introduced last month focused more on consumers, and claimed that the RM3.5 billion funding for small and medium enterprises was inadequate for them to cope with the crisis.
“During the global financial crisis in 2009, Malaysia unveiled a stimulus package of approximately RM60 billion over two years.
“At that time, the budget deficit increased from 4.8 per cent to 7.6 per cent. In comparison the 2020 Stimulus Package is expected to increase the fiscal deficit by only 0.2 percentage point to 3.4 per cent,” said MyEvents International Group CEO Shahul Hameed Dawood on behalf of the coalition.
The group also made 10 other requests ranging from lowering taxes to postponing Visit Malaysia 2020.
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