Sabah continues to post the highest number of cases nationwide with 1,199 cases

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz: The government has placed the priority on protecting the people above all else.

Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said the grant was in addition to their monthly RM600 COVID-19 Special Allowance given since March, and will continue until the pandemic threat is successfully overcome.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the withdrawal facility aims to assist members who have lost their jobs, and the move is expected to alleviate the financial burden of 600,000 affected members. 

“Better job prospects on an improving economy will also improve household spending, as well as recovery in tourism-related sectors will contribute to better private consumption next year,” MoF wrote.

The government's Covid-19 stimulus packages are expected to contribute over four percentage points to GDP growth, according to the Economic Report, noting that the government's all four stimulus packages, comprising fiscal and non-fiscal measures, totalled RM305 billion or 21% of the nation's GDP.

The country’s fiscal deficit is anticipated to widen to 6% of GDP due to the implementation of economic stimulus packages and recovery plans, in addition to a lower GDP estimate and global crude oil prices.

“[Malaysia’s] labour market [is] showing signs of recovery,” the MoF said.

The increase was mainly due to a sharp contraction in GDP during the first half of the year, the Ministry of Finance (MoF) said in its Economic Outlook 2021 report.

With Budget 2021 set to be even bigger, what can we expect from the mother of all Budgets this year?