Malaysia unveils $4.8 billion package to fight coronavirus impact

Cash aid, tax breaks and heavy investments to stimulate economy

Unveiling the stimulus package at his office today, Malaysia's embattled prime minister Mahathir Mohamad said the novel coronavirus outbreak has deeply affected the country's economy. © Reuters

P PREM KUMAR, Nikkei staff writer

February 27, 2020 21:35 JST

KUALA LUMPUR -- Malaysia unveiled a $4.75 billion relief package on Thursday to stimulate its economy which has been hit by the coronavirus outbreak and the epidemic's impact on China, a major trading partner and source of inward investment.

Outlining details of the package at his office, Malaysia's embattled Prime Minister Mahathir Mohamad said the coronavirus outbreak has deeply affected the country's leisure, aviation, tourism and retail sectors.