February 27, 2020 / 9:35 AM / a month ago

Malaysia's Mahathir announces $4.7 bln economic stimulus package

KUALA LUMPUR, Feb 27 (Reuters) - Malaysia’s interim prime minister Mahathir Mohamad on Thursday announced a 20 billion ringgit ($4.7 billion) stimulus package to counter the impact of the coronavirus outbreak.

The economic stimulus includes tax breaks and rescheduling of loans for companies affected by the virus outbreak, and cash aid for some, he said.

State linked companies and public agencies will also accelerate investment projects for 2020, Mahathir said. ($1 = 4.2350 ringgit) (Reporting by Rozanna Latiff, Mei Mei Chu and Liz Lee; Editing by Hugh Lawson)

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