Malaysia has confirmed a total of 22 cases as of 25 February 2020 and so far 20 patients have recovered. In order to treat Covid-19 suspected and positive cases, The Ministry of Health had expedite Covid-19 screening at 48 hospitals and announced 26 referral hospitals. The Government started taking stricter control measures after discovering the 14th case which occurred through a human-to-human transmission.
The most affected sectors in Malaysia are the Travel and Tourism and associated sectors such as accommodation (Hotels) as they have been getting a lot of cancellations from tourists ever since the outbreak. Bank Negara Malaysia announced that the Covid-19 outbreak will affect Malaysia's economic growth in Q1 2020.
Analyst and industry players hopes that the Government will introduce a stimulus package to stimulate Malaysia's economy and lighten any adverse repercussions from the Covid-19 outbreak. A stimulus package is soon to be announced and the followings are some of the proposed measures by experts:
* EPF contribution rate reduction for affected sectors.
* Incentives and Tax rebates for affected sectors.
* Discounts for affected sectors.
* Stimulus package for the services and manufacturing sector to boost economic growth.
* Reduction in borrowing cost.
Let's hope for some exciting measures to be announced in the upcoming stimulus package.
Let's hope for some exciting measures to be announced in the upcoming stimulus package.
Lochana Nanthacumar
Content Management Analyst
Wolters Kluwer Malaysia
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