Malaysia: Opposition wants increased govt funding to spur economy

  • The opposition will back government plans to increase funding to aid citizens and an economy battered by the Covid-19 pandemic, said Anwar Ibrahim.
  • The opposition leader told the Dewan Rakyat on 24 Aug 20 that the MYR45bn allocated under the Temporary Measures for Government Financing (Coronavirus Disease 2019 (Covid-19)) Bill 2020 is insufficient given the 17.1% contraction in Malaysia’s 2Q20 gross domestic product.
  • With the weakest GDP growth among regional peers, the country’s MYR290bn allocation through three stimulus packages is among the lowest, said Anwar, citing Statistics Department data.
  • The Port Dickson MP urged the Finance Ministry to seriously consider injecting more funds and step up economic recovery efforts, saying the focus should be on stimulating growth.
  • Explaining the opposition’s rejection of the Supply (Reallocation of Appropriated Expenditure) Bill 2020 on 17 Aug 20, he said the proposed increase in allocation was meant for ministries, and not for economic recovery or the people’s welfare.

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