June 5, 2020 / 9:02 AM / a month ago

Malaysia unveils extra $8 billion economic stimulus package

FILE PHOTO: Malaysia's Prime Minister Muhyiddin Yassin speaks during a news conference in Putrajaya, Malaysia March 11, 2020. REUTERS/Lim Huey Teng/File Photo

KUALA LUMPUR (Reuters) - Malaysia’s prime minister unveiled an additional economic stimulus package worth 35 billion ringgit ($8.22 billion) on Friday in a bid to revitalise industries badly hit by the coronavirus pandemic.

Muhyiddin Yassin said in a televised address that 10 billion ringgit would be direct fiscal injection from the government. The measure comes on top of incentives worth 260 billion ringgit announced earlier.

($1 = 4.2570 ringgit)

Reporting by Joseph Sipalan; editing by John Stonestreet

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