No risk of recession for Malaysia, says Guan Eng

Malaysia is not facing any risk of recession despite the government's plan to expedite the introduction of the planned economic stimulus package, said Finance Minister Lim Guan Eng.

The package, to be unveiled soon following the outbreak of the 2019 novel coronavirus (2019-nCoV), was more to ensure sustainable economic growth, Lim (photo) said.

While not disclosing when the package would be announced, he said a meeting would be held with the most-affected sectors in order to gather input.

Asked whether the stimulus package would include rebates on tax and electricity bill, Lim replied: "All this will be considered and taken into account.”

He was speaking to reporters here today after witnessing the signing of a new project funding agreement by the Federal Government, Sarawak state government and DanaInfra Nasional Bhd for the Sarawak portion of the Pan-Borneo Highway and a mutual termination letter to cancel the earlier project funding agreement.

In a statement yesterday, Lim said the Finance Ministry was very concerned with the outbreak of the coronavirus which had affected the economy in general, and the tourism sector in particular.

“The Finance Ministry has been tasked by the Cabinet to devise an economic stimulus package to overcome the economic impact of the coronavirus outbreak, which will be announced at a later date,” he said. - Bernama