Guan Eng: Govt may launch stimulus package if global economy weakens

Finance Minister Lim Guan Eng greets visitors at a kopitiam session near the Kukup International Ferry Terminal near Pontian, Johor, November 9, 2019. — Bernama pic
Finance Minister Lim Guan Eng greets visitors at a kopitiam session near the Kukup International Ferry Terminal near Pontian, Johor, November 9, 2019. — Bernama pic

PONTIAN, Nov 9 — The government may consider introducing an economic stimulus package if the global economy worsens next year, says Finance Minister Lim Guan Eng.

He said the matter had been discussed at Cabinet meetings before and after the tabling of Budget 2020.

“Actually, I had stated that we would have the space if global economic conditions worsen.

“We will ensure (there is) space to stimulate the economy as mentioned by (Home Minister) Tan Sri Muhyiddin Yassin. This has been discussed. What he (Muhyiddin) said is right,” he told reporters when met before a “kopitiam session” near the Kukup International Ferry Terminal near here today.

“We will discuss together,” he added.

Two days ago, Muhyiddin urged the government to launch a stimulus package to boost the country’s economic growth.

Lim said in Budget 2020, the government had already introduced a mini stimulus package in the form of a one-off incentive of RM30 in credit in the e-wallets of Malaysians to promote their use of e-wallets.

“(The allocation to implement this) is estimated at about RM500 million, so this is also a stimulus package.

“So when we discuss with the private sector who will probably implement this programme, there will probably be more good news,” he said, noting that the incentive can be claimed and used in the first two months of next year.

“If the global situation worsens, we have the space for the economic stimulus, we have already made the preparations,” he added. — Bernama

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