Malaysia unveiled a 15 billion ringgit ($3.7 billion) package to help the economy weather the impact from a fresh surge in coronavirus cases.The plan, which includes cash support to the poor, tax breaks and wage subsidies, will help bolster the existing initiatives aimed at helping people blunt the economic impact of the pandemic, Prime Minister Muhyiddin Yassin said in a televised address Monday.The measures come a week after Malaysia declared a state of emergency, allowing the government to enact immediate laws to contain the pandemic and support the economy.
The move had raised concerns about the government’s ability to stoke activity amid limited fiscal space and a relatively high debt load.The package amounts to 1.1% of gross domestic.